Bullish market activity in 2021 will cost jobs, $7 billion money manager predicts

  • 📰 CNBC
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 72%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Bullish market activity in 2021 will cost jobs, $7 billion money manager predicts (via TradingNation)

"The pandemic pledge that a lot of companies put out there will go away as they move towards focusing on profitability," he noted.

As for the remainder of the year, Nicholson expects a sideways market that's driven by volatility. His base case is the S&P 500 will be trading between 3,400 and 3,450 until January. On Thursday,He's also bracing for more wild swings among the mega-cap technology names. "From the bottom of March 23 to the end of August, tech was up over 80%. So, we expect it to have such pullbacks," said Nicholson, who manages $7 billion in assets. "The rest of the market isn't as overvalued as tech."

His strategy is to pare down the year's winners and gradually increase exposure to economically sensitive stocks such as

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

TradingNation

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines