It appears the market will be bullish from here till the end of the year. Buy at retracement.
Here Are 5 Reasons Why U.S. Stocks Will Likely Rally into the End of 2023
Investors are growing increasingly pessimistic about the stock market. But one Wall Street veteran believes that's a reason to start buying.Larry Adam, chief investment officer at Raymond James' private client group, said in a note to clients published Friday that U.S. stocks as represented by the S&P 500 have fallen too far, too fast, clearing a path for the market to rally into the end of the year, and beyond."When the equity market soared above our year-end target of 4,400 in July, we became more cautious," he said. "Fast forward to today, and the recent declines now provide S&P 500 upside of 6% and 12% into our year-end and 12-month targets.". And although third-quarter gross domestic product came in at a whopping 4.9%, this data is backward-looking and unlikely to be replicated. Meanwhile, the latest PCE data showed that core inflation continued to decelerate during the third quarter.Even a deluge of newly issued Treasurys wouldn't be enough to offset the demand from investors s
Here Are 5 Reasons Why U.S. Stocks Will Likely Rally into the End of 2023Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.