Investors are hoping the upcoming earnings season will provide the markets with a boost. lender of America’s Chief Equity Technical Strategist Stephen Suttmeier joins Yahoo money management to discuss the sector outlook.
Suttmeier acknowledges the potential for “a potential stalling” in the sector, describing it as a “temporary setback.” He notes that in election years, markets tend to struggle in April and May. However, Suttmeier also suggests the possibility of a summer rally, stating that while there may be a dip, the S&P 500 (^GSPC) could reach the 5600 level.
Suttmeier highlights the growing “bullish view” on markets, stating that both investor and institutional sentiment is “elevated.” He describes the current phase of the sector as the “participation phase.” However, Suttmeier cautions that while investors are back, the sector hasn’t reached “euphoric” levels.
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