• Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
Investing

Are we in a ‘new bull market’ now? This expert says yes

by January 30, 2023
by January 30, 2023

U.S. stocks are unlikely to see another down year even though the Fed is clearly not done raising rates just yet, says Ryan Detrick – Chief Market Strategist at Carson Group.

U.S. economy can avoid a recession

Year-to-date, the S&P 500 index is up more than 5.0%. Historically, Detrick noted this morning on CNBC’s “Worldwide Exchange”, that signals a strong year ahead.

So goes January, goes the year. When the year before is down and January’s up 5.0%, only happened five times, that full year has never been lower. So, we’re thinking it’s a new bull market, honestly.

More importantly, he has confidence in strength of the consumer and, therefore, does not expect the U.S. economy to slide into a recession this year, especially after the American Express CEO alluded to that last week.  

What else could help boost stock prices?

Detrick is particularly bullish on cyclical value names in things like financials, industrials, and materials but is sticking to a more “neutral” stance on technology.

He expects the U.S. dollar to weaken this year, thereby unlocking continues upside for the equities market.

Historically, when the U.S. dollar is strong, things don’t do as well. Earnings aren’t so great because we’re dealing with a huge spike in dollar last year. If it continues to be weak, that can be a tailwind.

There’s a more than 98% probability that the U.S. central bank will switch to a narrower 25 basis points increase in interest rates this week – that’s according to the CME FedWatch Tool.

The post Are we in a ‘new bull market’ now? This expert says yes appeared first on Invezz.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Gold at all-time highs in Euro and GBP – Report
next post
Exploring the puzzling logic behind Canada’s central bank policies

Related Posts

SDY stock: Is this dividend aristocrat ETF a...

May 30, 2023

3 overbought US sectors to watch in the...

May 30, 2023

ZIM Integrated Shipping stock price: the plot thickens

May 30, 2023

IDS share price: Here’s why I’d never buy...

May 30, 2023

Rolls-Royce share price outlook as volatility, volume slips

May 30, 2023

Rivian stock price forecast: Here’s why I’m buying...

May 30, 2023

Samsung vs TSMC stock: Susquehanna analyst picks a...

May 29, 2023

Nasdaq statistics in 2023

May 29, 2023

Professor Jeremy Siegel on AI stocks: ‘it’s not...

May 29, 2023

Debt ceiling deal: will the U.S. stocks rally...

May 29, 2023

Recent Posts

  • Let the Market, Not Government, Decide the Fate of EVs

    December 3, 2023
  • What Might Have Been

    December 3, 2023
  • Even More Ways to Cook The Benefit-Cost Analysis Books

    December 2, 2023
  • The public carsharing fleet reached 575,000 vehicles worldwide in 2022

    December 2, 2023
  • Frank Capra’s Timeless Vision of American Exceptionalism

    December 2, 2023
  • eSIM adoption drives growth and market disruption in cellular IoT, says GlobalData

    December 1, 2023

Editors’ Picks

  • 1

    Is it too late to sell Biogen stock after losing an appeal on its multiple sclerosis drug?

    November 30, 2021
  • 2

    Nvidia Corporation earnings beat not sufficient to boost stock – Is it a good buy?

    February 18, 2022
  • 3

    The General Welfare

    November 4, 2021
  • 4

    2 Canadian marijuana stocks to keep a close eye on

    February 5, 2022
  • 5

    Headed for Insolvency: Biden Administration Increases US Obligations Worldwide

    May 29, 2022
  • 6

    The IMF Should Be Eliminated, Not Expanded

    October 12, 2021
  • 7

    Micron Technology shares are trading lower after-hours: here’s why

    September 29, 2021
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Categories

  • Economy (2,258)
  • Editor's Pick (796)
  • Investing (5,549)
  • Stock (10)
About Us Terms & Conditions Privacy Policy Email WhiteListing Contact Us

Disclaimer: Portfolioperformancetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2023 Portfolioperformancetoday.com All Rights Reserved.

Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick

Read alsox

Apple ditched price hike on iPhone 14:...

September 8, 2022

Toyota pledges massive investments into electric vehicles

December 14, 2021

Xerox and Oracle enter multi-year cloud deal

December 16, 2021