The S&P 500 (^GSPC) ended an eight-day winning streak, briefly surpassing 5,600 on Tuesday morning and surpassing the year-end targets of several financial institutions, including JP Morgan. As the year draws to a close, what will spur the market to continue its upward trajectory? Or is there a possibility of a pullback?
Abby Yoder, US Equity Strategist at JPMorgan Private Bank, appears on Catalysts to provide insight into the outlook for the current market rally and what could be the next catalyst to move the markets (^DJI, ^IXIC, ^GSPC) further. On the back of positive economic data and the growing likelihood that the Federal Reserve will begin to cut interest rates, Yoder predicts that “other parts of the more cyclical markets will begin to join the broader market rally.”
“I think the September jobs report will be the one to watch most. I think that will lead the Fed. They’ll be looking at that data and that will drive their decision,” Yoder told Yahoo Finance.
To learn more about expert insights and the latest market trends, click here to watch this full episode of Catalysts.
This post was written by Nicholas Giacobino