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Today but we are financial network and we do one -- -- -- the markets and what's going on but the stock market in particular with the Dow and the S&P.
Shrugging off disappointing economic data here and hitting all time highs.
Where the risks will we ever see a pullback -- -- -- his take -- Scott Wren senior equity strategist for wells Fargo's got.
Thanks again for joining us thanks for being with us what's your take on the health of the market where can go from here.
Well -- just another day another record high for these indices.
I think that bill but the momentum clearly is to the upside and and it's.
Its profit and equity strategist try to tell clients you know get get out of the way -- -- freight train so.
You know what you hope is that -- client -- -- we've certainly been encouraging them to be on board.
And I think what what is likely to happen in the market is above the -- top the -- of -- target rate tree here and we thought it would trade above there.
You know for us this thing is is what witnesses -- going to run out of steam we have some conviction we think the -- -- -- in the year that the 1575.
To sixteen quarter range so but just a touch below where we are now so.
What were trying to do trigger out.
We're we're going to take a little money off the table basically and I think it's not here it's it's going to be a little bit higher than here -- -- not expect to be ultra competitive sure exactly where because.
We've we've clearly picked up a little momentum here over the -- -- Yeah I mean it is may -- that is the middle of the month that is Roger -- birthday by the way happy -- added at odds but we're halfway through sell in May and go away.
Yet it hasn't happened you feel safe.
That that's not gonna come true for the first time in four years.
Well I I think that two -- -- -- -- go away is obviously statistically.
On average the way to go.
I don't think it's gonna happen this year -- I think that's I think the market.
While we -- sell -- here.
A little bit I think the market is still going to -- -- I don't think people should be raising a lot of cash their accounts because I think any pullbacks are going to be shallow.
And I think over the next twelve to 24 months that the market is going to be higher so.
Any pullbacks certainly an opportunity.
Not even if the market -- a little lower than here for the year I don't it's more valuations are not expenses.
They're coming up 22 Scott real quickly.
We are watching today.
And -- from Washington literally as we speak any connection there at all.
God I don't think so I mean I think that there could be some some revelations but.
But any of these -- -- opportunities by cyclical sectors consumer discretionary.
Materials -- Technology.
Those -- all.
But relative letters that's where you want to be over the next twelve months okay all right Scott -- thanks as always our thanks guys.
All right we'll be back after.
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