Markets were mixed on Tuesday.
The S&P 500 rose 0.2 percent and the Nikkei 225 rose 0.5 percent but the STOXX Europe 600 fell 0.4 percent.
“For the most part, earnings across sectors are coming in strong,” said John Brady, managing director at R.J. O’Brien & Associates. “I’m not concerned about valuations yet,” he added, pointing out that “there is just no compelling investment alternative to equities right now.”
However, Jeff Reaves at MarketWatch warned that there are troubling signs for the stock market.
“Those who aren’t prepared for a market crash — or at least a 10% to 20% correction — may be caught flat-footed and suffer serious portfolio declines as a result,” he said
And the market could be due for a pullback, according to Katie Stockton, chief technical strategist at BTIG.
“If we close lower sometime this week, then, the downside risk will increase,” Stockton said.
Nevertheless, Stockton thinks that the “long-term positive momentum is there” and “we think any pullback is an opportunity to add exposure to U.S. stocks”.
No comments:
Post a Comment