Marking a third straight period of losses, the index’s EPS suffered in financials, real estate, material, health care and energy, a survey finds.
Over the past three decades, reliance on a handful of big stocks (like we have now) does not end well, according to the CFRA strategist.
Cyclical stock sectors re-take the lead, but with deliberation, as earnings weaken.
They usually go up after the vote, with the uncertainty over. But maybe not this year, warns Schwab’s Liz Ann Sonders and some other Wall Street savants.
Over the past three-quarters of a century, the market has lost an average 0.56% during the upcoming month, CFRA data show.
After a bad January-through-June spell, CFRA’s Stovall says, markets usually improve by year-end.
None of the shock that came with the Fed’s 2013 move has appeared. And, anyway, equities seem to have a special immunity to QE’s fate.
That has happened just once since 2009, but CFRA’s Stovall expects a re-run.
Split views seen in FOMC minutes are vexing. So let’s hear what Wall Street strategists think.