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大跌不要慌!华尔街多头:市场的剧烈波动将为大规模反弹奠定基础

Don't panic about the collapse! Wall Street bulls: sharp market fluctuations will lay the foundation for a large-scale rebound

FX168 ·  Jul 20, 2021 16:17

Source: FX168

FX168 Financial News (Hong Kong)-European and American stock markets were hit hard on Monday, with the Dow falling more than 900points in intraday trading.NASDAQThere was the biggest drop since May.

In addition, the yield on the benchmark 10-year Treasury note fell to 1.17%, a five-month low. CNBC said that the sudden cooling of market risk sentiment is due to the panic caused by novel coronavirus dleta mutant strain. Other analysts believe that investors are worried about inflation.

(screenshot source: CNBC)

Despite a very bad day for US stocks, Art Hogan, Wall Street bulls and chief market strategist at National Securities, expects these wild swings to lay the groundwork for a sharp rebound and prompt him to raise his year-end target for the S & P 500.

"here, we sell everything in risk aversion mode. People are pouring into US Treasuries, "Hogan said on CNBC's" tradenation "on Monday. Hogan believes there will be a 5-10 per cent pullback. But he stressed that this was to be expected.

In this environment, he encourages long-term investors to choose equally weighted growth and cyclical stocks. "if you adjust every two months, I think you will outperform the S & P 500," he said. "you did it last year, and you probably will do it again this year."

On the growth side, Hogan is bullish on 5G, cloud security and cloud computing. He is bullish on financial stocks, energy stocks, industrial stocks and materials stocks. He acknowledged that COVID-19 's risk was increasing. But he suspects that this will mean extreme restrictions and a significant slowdown in economic growth.

"the current wave is likely to peak and we will refocus on what we should focus on, such as substantial earnings growth," he said. "

Hogan expects the ongoing second-quarter earnings season to significantly exceed Wall Street expectations. If so, he expects the S & P target to rise to 4400 by the end of the year, up 3 per cent from Monday's close.

"there is a lot of upside in this market. Volatility is part of this process. "remember, this is an economy that is just beginning to reopen, and these consumers are just starting to get back to life."

The translation is provided by third-party software.


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