Relief is on the way for markets: Strategist
Stocks (^DJI, ^IXIC, ^GSPC) have experienced a hectic week, with PCE and GDP data releases alongside underwhelming earnings from the Magnificent 7 tech giants. Merrill and Bank of America Private Bank senior investment strategist Lauren Sanfilippo joins Market Domination to discuss market outlooks. Sanfilippo notes that the week's economic data indicated a disinflationary trend, which she says is "good for the Fed in terms of what they communicate next week." She adds that "relief will be on the way," which is being reflected in current market behavior. Regarding earnings, Sanfilippo suggests they will indicate whether a market rotation will continue, stating, "if that 493, the other stocks, will catch up and the Mag 7 will catch down," potentially leading to a broadening out in the market. Looking ahead, Sanfilippo expresses some caution on profit growth, saying that estimates for 2025 may be "a little lofty." However, she remains optimistic about the near term, telling Yahoo Finance, "I do think we can finish out this year sort of near where estimates are" for markets. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Angel Smith
