"The problem you have is that valuations are stretched across the board," said Keeley Teton portfolio manager Brian Leonard in an interview with CNBC."You're sitting at records, but there's not a lot of enthusiasm or euphoria. Historically, when the records happened, the valuations were more reasonable."
In a Wednesday note, the firm pointed to President-elect Donald Trump's November victory as the reason U.S. equities have outperformed their European counterparts last month. "Do we look for higher stock prices in the coming 12 months? The short answer is yes," strategist Scott Wren said in a Wednesday note to clients."As far as the SPX goes, we believe the index will finish 2025 in the 6500 to 6700 range, a noticeable advance from current levels.", touting personal investments in his favorite video game retailer.
"It now means the S&P 500 is up +27.6% so far in 2024, which is only a couple of points behind its 2013 gain that still stands as the strongest annual advance of the 21st century so far," Deutsche Bank wrote in a Thursday note.An American Airlines Boeing 737 MAX 8 aircraft approaches San Diego International Airport for a landing from Phoenix on June 28, 2024 in San Diego, California.
Bearish views tumbled to 30.7% of respondents from 38.6% last week and an average of 31% since the survey began. Individual investors who are neutral about the six-month outlook fell to 21% from 24.3%, well below an historical average of 31.5%.
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