with the inflation reading coming in lower than expected for the month of April. Portfolio Wealth Advisors President and CIO Lee Munson joins Wealth! to provide his insights on the market outlook amid this printthat rate cuts are not expected to materialize until after the election,
The only major asset class that I follow that's gonna have declining earnings growth going into next year is the NASDAQ 100. And today the market has voted what they think about the situation, which is we go up in asset prices when the market finally gets what it wants in the form of that first cut and then the pacing of cuts thereafter.Well, I'm not sure that there's necessarily a pivot, you know, I'm not sure that once rate starts getting cut, that you're gonna have these clear things that are gonna start working.
So I think that what that means for stock portfolios, there's a high likelihood that as soon as we see that pivot, we're going to see more of a broadening out of stock participations and a more broadening out of what stocks are participating in a rally going into next year rather than going back to the mid teens, 10 years ago where it was just large growth stocks that, you know, make a lot of revenues, maybe don't make a lot of profits and, and live off of cheap money.
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