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The S&P 500 (^GSPC) is coming off of eight consecutive days of gains, briefly touching back above 5,600 Tuesday morning — above several financial firms’ year-end targets, including JPMorgan’s. With the end of the year in sight, what catalysts can cause the market to continue to rally? or, could there be a pullback?
JPMorgan Private Bank US equity strategist Abby Yoder joins Catalysts to give insight into the outlook on the current market rally and what could be the next catalysts to move markets (^DJI, ^IXIC, ^GSPC) further. On the backdrop of positive economic data and the growing likelihood the Federal Reserve will begin to cut interest rates, Yoder foresees “other parts of the market that are more cyclically oriented to start to participate” in the broadening market rally.
“I think the… the employment report in September is going to be the most watched thing. I think that will precede what happens with the Fed, right? They are watching that data as well and that will dictate what they do in terms of their decision,” Yoder tells Yahoo Finance.
For more expert insight and the latest market action, click here to watch this full episode of Catalysts.
This post was written by Nicholas Jacobino
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