With the third quarter winding down, and the final quarter of the year almost upon us, it’s time to take stock of stock markets. Where are we likely to go in the next few months, and what are the likely forces to impact trading? In some recent comments on CNBC, Citi strategist Scott Chronert lays out his own belief that we’re likely to see some further gains.
Chronert first points out that fears of a hard recession have faded, or as he puts it, “We’ve been pricing in a soft landing since the first part of June.” Backing this, Chronert states that the Fed’s rate cycle is near its peak, and that corporate earnings are likely to remain resilient. At his bottom line, Chronert adds, “I think all told the balance is still to the upside into the end of the year, and we’re going to fall back on our ongoing view that the fundamental underpinning for the S&P remains pretty positive at this point.”
Running with this positive sentiment, the analysts at Citi pinpointed three…
2023-09-13 18:02:22
Post from finance.yahoo.com