October 28, 2024 at 09:16PM
Goldman Sachs analysts on why US stocks are set to gain for the rest of the year:
seasonals – Monday starts “the best trading period of the year for U.S. equities also during election years”
end of October means less selling from mutual funds and pensions
US corporates return to buying – GS says the largest buyer of the equity market are U.S. Corporates (“repurchase window” for U.S. companies to buy back their own stock “started Monday “with 50% of corporates in the open window”)
diminished volatility (CBOE Volatility Index down)
contrarian call against a “global consensus on Wall Street” that stock prices will fall after the presidential election
I posted earlier from BoA:
Bank of America technical analysts like S&P 500 through to the end of the year
This article was written by Eamonn Sheridan at www.forexlive.com.
