Monday, 12 June 2017

US stock market about to be hit by a storm?

David Stockman, former director of the Office of Management and Budget under President Ronald Reagan, thinks that the US stock market may be about to be hit by a storm.

“This is one of the most dangerous market environments we've ever been in. It's the calm before a gigantic, horrendous storm that I don't think is too far down the road,” he told CNBC.

In contrast, PNC Asset Management's global chief investment strategist Bill Stone thinks that the market will keep rallying.

“We'll still likely see good [earnings] growth rates for the rest of the year,” he told CNBC last Thursday. He added that the US economy “is probably going to be picking up here”.

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