#yahoofinance #bullmarket #stockmarket
The S&P 500 (^GSPC) is moving to the upside Tuesday morning as Federal Reserve Chair Jerome Powell testifies before the Senate, speaking on the state of the US economy. While some on Wall Street believe that Powell’s comments suggest moving towards interest rate cuts, others are hesitant for how the markets may react to such monetary policy decisions. Bradesco BBI head of equity strategy Ben Laidler joins Catalysts to give insight into how the market (^DJI, ^IXIC, ^GSPC) could play out in the next couple of months and what he believes will be the drivers of a new bull market. “One is these upcoming interest rate cuts from the Fed, and the second is this accelerating earnings cycle. I think both are in play. But we’re going to get big news on both of those actually later this week,” Laidler tells Catalysts. He also argues the US election will play a part in the markets as well: “I do think it’s a volatility event, not a fundamental event. I think that’s what we sort of learned in the rest of the world where we’ve had surprises from India to Mexico to France. When you’re sitting on gains and volatility is at record low levels, which is where it has been globally, you’ve definitely had some volatility. Investors reacted to that. But I think, on the one hand, the US election is the granddaddy of them all. And it started early, US equities 65% of global market cap, nowhere to hide.” Catch Ben Laidler’s full interview in the latest episode of Opening Bid. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Nicholas Jacobino
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