Bank of America's top strategist says there needs to be a recovery in millennial spending for her to get more bullish on the economy. 'The risk with millennials is that they’ve had two really bad things happen to them during key formative stages.'
Reality bites. The Federal Reserve’s cautious outlook and worries about a second U.S. virus wave are spooking investors for Thursday.
But given that the S&P 500 is currently hovering just under 3,200, the bank still looks pretty cautious. In our call of the day, MarketWatch spoke to Subramanian about the signals she needs to see to get more bullish on stocks. “I think that the risk with millennials is that they’ve had two really bad things happen to them during key formative stages. They graduated from college during the global financial crisis, so they had massive student debt and were basically forced to live with their parents,” Subramanian said.
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