A massive asset management firm, New York Life Investments, which handles a whopping $754 billion in assets, is betting big on a bullish US stock market in the coming weeks.
Positive Outlook Despite Investor Doubts
Despite current investor skepticism, Lauren Goodwin, the firm’s chief market strategist, sees the market climbing higher. In a recent CNBC interview, she predicted new highs for US stocks. She attributes this positive outlook to a better-than-expected economic performance in the second quarter of the year.
Why the Optimism?
Goodwin points to several factors fueling her bullish prediction:
- Better-than-expected Q2 results: The economy performed much better than initial forecasts, and many feared scenarios simply didn’t materialize.
- Strong Earnings: This positive economic climate is expected to translate into strong corporate earnings.
- Positive Macroeconomic Trends: Factors like deregulation and the resurgence of global supply chains (especially supporting the AI sector) are contributing to broader market growth. Even on weaker market days, there hasn’t been a significant shift to safer, defensive investments.
Climbing the “Wall of Worry”
Goodwin believes the market will continue its upward trajectory, overcoming investor anxieties, which she refers to as “climbing the wall of worry.” She anticipates this positive trend to continue for the next three to four weeks.
Disclaimer:
This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before making any investment decisions./p>