September may have a bad reputation for stocks, but one top strategist just hiked his S&P 500 year-end target anyway

September may historically be a rough month for stocks, but it didn't stop National Securities' Art Hogan from hiking his S&P 500 year-end target by 7%.

He made the bullish move based on a strong second quarter earnings season and the notion Covid-19 delta variant cases are likely peaking.Trading Nation " on Tuesday. "I actually think we see a pick-up in economic activity in September, and I think that will ward off some of that negative sentiment that we typically get at or about the September month."

Hogan, who oversees $34 billion in assets, hiked his S&P 500 target to 4,700 from 4,400 on the month's first trading day. On Tuesday, the index fell 15 points to close at 4,520. It's still just a fraction of a percent away from its all-time high., and that's where we're getting that higher target from," said Hogan.

He believes September will buck the historical negative trends due to the robust economic recovery driven by unprecedented fiscal and monetary policies. Plus, Hogan's hunch is delta cases will peak and spark more enthusiasm for stocks.

It’s gonna hit 10,000 then 20,000 one day. Only question is when

Art hogan is a contrary indicator

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Market bull Tom Lee predicts a record September, but warns that a 10% correction could come in OctoberMarket bull Tom Lee predicts a record September, but warns stocks are vulnerable to a 10% pullback in October (via TradingNation) TradingNation Lol….. algorithmic setups an all…. Manipulated markets move in prescription fashion😘💅🏼 The entire “retail” market is ready to slap the sheet out of the American stock markets…. Dips, corrections, runs, crashes; Apes Will be the downfall of the manipulation by market makers TradingNation CryptoWhale TradingNation So basically flat going into the strongest trading month of the year. Awesome 👏
Источник: CNBC - 🏆 12. / 72 Прочитайте больше »

Stocks may fall 15% by year-end, warns Morgan Stanley. Here are some portfolio moves investors might consider.Morgan Stanley’s optimistic view of the economy isn’t keeping it from warning about a looming correction in the U.S. stock market. And monkeys “might” fly out of my butt. ms kinda sus 👀 good luck
Источник: MarketWatch - 🏆 3. / 97 Прочитайте больше »