Stocks hit record highs on trade optimism—here's where 3 experts stand on what's ahead (via TradingNation)
Experts said the move would undoubtedly boost the U.S. stock market in the near term but weren't exactly sounding the "all-clear" signal on next year.Kathryn Rooney Vera, head of global macroeconomic research and investment strategy at Bulltick Capital Markets, called this the market's ideal "melt-up scenario":
"This is the melt-up scenario. So, no more U.S. recession; that's certainly now consensus. It wasn't only six to 12 months ago. Consensus was for a U.S. recession. Now, there is no U.S. recession — that's been my view for the past year — you have the Fed cutting and you have a trade deal. So, those three things are what took down the markets December of last year. Now, we have the melt-up scenario.
Scott Wren, Wells Fargo Investment Institute senior global equity strategist, said investors should be cognizant of one under-the-radar trend with their peers as trade tensions subside:of our target range, so we're just above the top end of that. I think stocks are pretty close to fair value and, … clearly, the market has anticipated some trade positives coming in. I'm not sure the market has anticipated, let's say, a rollback of the September tariffs.
Andrew Slimmon, head of the applied equity advisors team at Morgan Stanley Investment Management, flagged a few groups he figured would do especially well into year-end: "The reality of the election is if the economy's doing well, we re-elect the sitting president regardless of what party he's from. I think [with] the Fed cutting rates [and] the China trade deal, we will have a strong economy next year and the market will reward that for a while. However, my job is to get ahead of it. I was on in September; I said I think the market's going to break out in the fourth quarter.
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