Friday, 20 December 2019

Markets rise, Merrill Lynch sees further 20 percent gain

Markets were mostly higher on Thursday, with the S&P 500 in particular rising 0.5 percent to another record high.

While the US House of Representatives voted to impeach US President Donald Trump on Wednesday, markets appeared unfazed.

“The market is suggesting right now that it’s meaningless,” said Kent Engelke, chief economic strategist at Capitol Securities Management.

“With the reduction in risks from the uncertainty that the American trade war produced in 2019, we’re keeping our fingers crossed that the economy will get some more wind in its sails in 2020 to extend its longest winning run in history,” said MUFG chief economist Chris Rupkey.

“The trend is your friend. We’re very bullish on the market right now,” Merrill Lynch’s Andy Sieg told CNBC on Thursday. “There’s an upside scenario that could see the market up 20% from these levels.”

No comments:

Post a comment