U.S. stocks turned mixed Tuesday after a quick boost from a well-received Treasury auction. U.S. Treasurys rallied, adding slightly to their earlier gains after a solid auction of two-year notes. But it was a see-saw day, with any boost or dip quickly fizzling. Read and listen to what the experts had to say...
S&P to Hit 800 by September
Martin Marnick of Helmsman Global Trading said markets will drift lower and the S&P 500 will slide to 800 points by September. “We’ve seen the “sell in May and go away” scenario and it’s just starting to play out where we’ve seen volume start to erode on Wall Street,” he said.
Equity Markets Will be Higher in 3 Months
Equity markets will be higher in 3 months than today and leading indicators should surprise on the upside, said Joug Kramer, chief economist at Commerzbank. “Expect another 2 to 3 months of solid gains in leading indicators, which should be positive for equities, he said.
Investors Expect Flat Revenue Growth
“People are looking ahead to second-quarter earnings … and probably realizing that we’re going to get much of the same that we got in the first-quarter, which is generally flat to weak revenue growth,” said Steve Massocca of Wedbush Morgan Securities, in regards to the recent market downtick.
Credit Market Problems to Creep Up Again?
We are now returning to some distress in the credit markets, said Puru Saxena of Puru Saxena Wealth Management. “Take money off the table—the yen and dollar are getting stronger and the major world currencies and commodities are selling-off. The last few months have been a rally in risk. Everyone has been betting on hyperinflation, but we aren’t going to get any inflation in the next 6 to 12 months at least,” he said.