Analysts Divided on U.S. Market's Direction
With the Dow on a record run and the S&P surpassing its closing high set in 2000, is now the time to be aggressive in this rally? Darin Richards, chief investment strategist at AKT Wealth Advisors, and Barry Ritholtz, chief market strategist at Ritholtz Research & Analytics, debated the issue on “Morning Call.”
“As strong as the U.S. markets have been doing, they’re really lagging behind what’s taking place overseas. Typically the U.S. is the locomotive that pulls the rest of the world, but in the present environment, we’re pretty much the caboose,” said Ritholtz.
He believes this is a time to be less aggressive and to stay defensive. “On a relative basis, we think your money is being treated better overseas,” said Ritholtz.
While Richards agrees that the “global economy is on a great pace and is bringing the U.S. market along with it,” he has a more optimistic outlook for America’s market. “We’re going to continue to see the market go up and we are looking forward to another bullish week,” said Richards, who sees rising inflation as the only factor that could cause the U.S. market to stumble.