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Bank of America: Stock Market May See Profit-Taking After Jackson Hole Conference
Summary: According to sources, Bank of America strategists have pointed out that the record rebound in the US stock market has provided an excellent opportunity for profit-taking after the dovish signal from the Federal Reserve at the Jackson Hole conference. Michael Hartnett's team stated that investors are flocking to risk assets, optimistic that the Fed will ...
According to sources, Bank of America strategists have pointed out that the record rebound in the US stock market has provided an excellent opportunity for profit-taking after the dovish signal from the Federal Reserve at the Jackson Hole conference. Michael Hartnett's team stated that investors are flocking to risk assets, optimistic that the Fed will lower interest rates to support the weak labor market. Hartnett warned that the stock market may be forming a bubble, and believes that gold, commodities, cryptocurrencies, and emerging market assets will be the biggest winners.
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Link: Bank of America: Stock Market May See Profit-Taking After Jackson Hole Conference [Copy]
