Jan 31, 2024
(1/31/24) Corporate earnings are coming in good, but not as good as expected, especially with Mega-cap companies. The S&P remains over-bought, and we're looking for an eventual (and normal) correction to perhaps 4,700. Rotation out of the NASDAQ into the Dow could create ripples of volatility, and sitting on cash while waiting it out for a lower entry point could prove profitable. Bond yields are dropping as bond prices turn up as the Treasury announced it's going to issue less debt than expected. The duration mix is also expected to be bond-positive, and if the Fed's afternoon message is more dovish, that would also be bond-positive.
Hosted by RIA Chief Investment Strategist, Lance Roberts,
CIO
Produced by Brent Clanton
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