“I should have bought the damn dip!” a trader screamed in frustration. Who knew right? The S&P 500 is back near the all-time high. US stocks surged on Friday, driven by Federal Reserve Chair Jerome Powell’s clearest indication yet that interest rate cuts are imminent.
Speaking at the Jackson Hole Economic Symposium, Powell stated, “the time has come for cuts,” expressing growing confidence that inflation will soon return to the central bank’s 2% target.
Are you currently bullish or bearish on US stocks? What is your target level for the S&P 500 by Christmas? Well, some of you might even turn to astrology for hints on predicting the stock market.
As some of you are aware, the end-of-year seasonal tends to be favorable. This period typically includes the “Santa Claus rally,” a phenomenon where stock prices tend to rise in the last week of December through the first few trading days of January.
However, it is important to consider that we have an election between now and New Year’s, which could add an element of uncertainty to the markets.
I invite you to participate in this survey to share your insights. Please send me your feedback via email. The results of the survey will be covered in our next webinar.