Pros Say: Market to ‘Take Breather’ After Big Rally
Stocks pulled back Monday as a major selloff in China set the stage for a rough day on the US markets. In the day's only economic news, business activity in the Midwest picked up at a faster pace than economists had expected. It was the highest reading since September 2008. Read and listen to what the experts had to say ...
Equities Will Continue to Gain in September
September is historically the worst month for equities, but Par Magnusson, senior analyst at Danske Bank remains optimistic about the future of equitiesover the next few months. “The labor market and the consumer is being brought back from the dead—and if it doesn’t do that then the equities will have a tough time,” he said.
US to ‘Take a Breath’ After Massive Rally
"We believe that in the foreground we could see U.S. taking a breath after a massive rally," said Sebastian Paris-Horvitz from Axa Investment Managers. "We see better opportunities to tactically enter this market by the end of the year. The market needs to reassess a little bit how sustainable this recovery will be."
Finding a Balance for Oil’s Price
"One is always trying to strike a balance between a price level that sustains interest in investment and doesn't penalize the global economy," said David Fyfe from IEA. “Any risks in the current fragile environment of any unexpected surge in prices is something that would be unwelcome at the time."
Don’t Buy Gold Now
It is definitely not the time to buy gold, said Eugen Weinberg from Commerzbank. "If you have gold, stick to it because it's your insurance for the bad times. But for the moment, I don't think you should buy it at the current levels because we are rangebound and performance of gold is mirroring the performance of the U.S. dollar and it’s only a currency hedge and nothing more," he added.
'Only' 10% Pullback Expected
"It's been a real rally," said Jud Pyle from Peak6 Investments. "The S&P is kind of fair-valued around 900 to 950, so I think we are a little bit overbought. If it’s been a junk market and we’re going to have a pullback, I don’t "anticipate the pullback to be more than about 10 percent. This rally has helped us set a floor in this market."
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