If the index completes a round trip by September, it will make a full recovery twice as fast as the average of the previous 12 cycles, data compiled by Bloomberg shows. Up 27% from its October trough, the S&P 500 is now about 5% away from reclaiming its all-time high of 4,796.56 reached in January 2022. “As people have to get right sized on their portfolio, they’re going to have to come in and buy, and every day gets harder.”Īlmost $10 trillion has been restored to equity values in the past nine months as job growth, consumer spending and corporate earnings defied doomsayers. “I’m shocked that the Fed has really pulled off the soft landing and everybody is caught underweight equity exposure,” said Dennis Davitt, co-manager of the MDP Low Volatility Fund who recently adjusted its positions to prepare for more market upside. Should the optimism persist, last year’s bear market has a shot at being unwound faster than all but three of its predecessors since World War II. That some signals coming from the US economy are nowhere near as buoyant - and that Federal Reserve policy makers sound only marginally less worried about inflation now than they did then - is but a nuisance for investors who just pushed stocks up for the eighth time in 10 weeks. Rather than foretelling trouble, chart patterns tracking everything from cross-asset momentum to transportation companies are painting a picture of burgeoning economic vigor. Oil Trader Vitol Doubled Average Pay on Record $15.1 Billion ProfitĪnd yet fewer than 20 months after it began, the bear market that engulfed the S&P 500 is a mere 260 points from being completely erased. Why South Africa Is on the Brink of Chaos US Recession Becomes Closer Call as Economists Rethink Forecasts Putin Warns Poland Over ‘Aggression’ Against Ally Belarus The Bear Market Has Nearly Been Erased, Fewer Than 20 Months After It Began Practically everyone saw a recession coming. The bond market was flashing dire warnings. Jerome Powell was waging war on inflation. His views are trusted by the world’s most renowned global newswires including Reuters, Bloomberg and the Associated Press, and he is regularly quoted in leading publications such as MSN, MarketWatch, Forbes, Breitbart, The New York Times and The Wall Street Journal.Įd holds a BA in Economics from Rutgers University.(Bloomberg) - It made sense at the time. Most recently he worked with, where he provided market analysis on economic data and corporate news.īased in New York, Ed is a regular guest on several major financial television networks including CNBC, Bloomberg TV, Yahoo! Finance Live, Fox Business and Sky TV. Over the course of his career, Ed has worked with some of the leading forex brokerages, research teams and news departments on Wall Street including Global Forex Trading, FX Solutions and Trading Advantage. His particular expertise lies across a wide range of asset classes including FX, commodities, fixed income, stocks and cryptocurrencies. With more than 20 years’ trading experience, Ed Moya is a senior market analyst with OANDA, producing up-to-the-minute intermarket analysis, coverage of geopolitical events, central bank policies and market reaction to corporate news.
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