As stocks climb, now entering into the second half of the year, investors are keen to understand the market outlook for the rest of 2024. MJP Wealth Advisors Chief Investment Officer Brian Vendig joins Market Domination Overtime to share his perspective on what lies ahead.
Reflecting on the first half, Vendig observes, “It was dominated by some of those Magnificent Five or Magnificent Seven names continuing to lead the charts.” He notes that nine of the S&P 500 (^GSPC) sectors trailed the tech sector. However, Vendig anticipates a potential shift in this dynamic as markets move into the second half, with earnings season broadening to include a wider range of companies. He adds that “continued confidence in that slowing inflation story” could catalyze “a catch-up in the markets.”
Regarding the election’s impact on markets, Vendig told Yahoo Finance: “I’m looking at things from a let’s get to the election-first perspective, because as we know, it’s really difficult to handicap politics.”
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