US equities (^GSPC, ^DJI, ^IXIC) went through a bit of a rollercoaster this week, with a large sell-off on Monday and a bit of a recovery on Thursday. Is there more volatility ahead or was this just a fluke? Janney Montgomery Scott chief investment strategist Mark Luschini joins Market Domination to give insight into the volatility in the past week and how markets ended the week. "Collectively, I think we’re ending kind of where we’re beginning, which is to say, the economy continues to look like it’s in pretty good shape. The Atlanta Fed GDP Now tracker is coming in at 2.9% for activity here, so far into the third quarter, which is a continuation of a reasonably good economic climate that should be fertile for stocks," says Luschini. On whether this is a buying opportunity, Luschini does think, largely speaking, this is a buying opportunity, saying: "I do expect further volatility over the next couple of months, the presidential cycle analogs suggest that we continue to see some weakness here leading up to the election. In addition to that, there is still I think, some concern that is worthwhile, noting that the economy is beginning to moderate the job market is cooling, so we’ll have to continue to watch the data that suggests that the labor market remains relatively healthy." He recommends investors take a look at defensive sectors to help balance out potential risk.
#youtube #NEWS #stockmarket
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
