As the market rally (^DJI, ^IXIC, ^GSPC) begins to see a broadening out from the Big Tech players and Wall Street expects to see an interest rate cut from the Federal Reserve soon, what’s the year-end outlook beginning to look like for equities?
HSBC Americas CIO Jose Rasco joins Catalysts to discuss how markets could change moving forward with many expecting the Fed to cut rates in September.
In terms of the timing of a broadening out past the Magnificent Seven group of tech giants, Rasco comments: "I think you’re going to see some catch-up. Valuations just are compelling in certain areas and I think that’s going to play out over the next month or two before we get to the Fed rate cut. Remember, September is the end of the fiscal year for the federal government. God knows what’s going to happen in terms of Treasury issuance, right? And that could push rates back up, as we’ve seen two times already in the last year. And that could have an effect on the market short term. Longer term, however, fundamentals still look good."
#stocks #STOCKMARKET #news
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