On Friday, U.S. equity market slipped, with all three benchmark index ending the day in red. Stocks also fell for the week. The pullback last week has prompted investors to ask the question whether the rally in U.S.
equity market is coming to an end. In an interview with CNBC last week, Marc Faber said that he expects a 1987 like crash in equities in the second half of the year.
Faber is not the only one expecting a pullback right now. Speaking to CNBC, John Stoltzfus, Chief Investment Strategist at Oppenheimer, said that there is a considerable opportunity for profit taking given that the market is still not certain about the timing of the Federal Reserve’s plans to scale back its bond purchase program.
While the broader market struggled last week, basic materials sector enjoyed an excellent run as some robust economic data from China lifted investors’ sentiment on commodities. Copper prices rose sharply last week. Shares of mining giants such as BHP Billiton (ADR) (NYSE: BHP), and Rio Tinto Plc (ADR) (NYSE: RIO). It will be interesting to see if the sector can continue its excellent run amid signs of improvement in the Chinese economy.
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equity market is coming to an end. In an interview with CNBC last week, Marc Faber said that he expects a 1987 like crash in equities in the second half of the year.
Faber is not the only one expecting a pullback right now. Speaking to CNBC, John Stoltzfus, Chief Investment Strategist at Oppenheimer, said that there is a considerable opportunity for profit taking given that the market is still not certain about the timing of the Federal Reserve’s plans to scale back its bond purchase program.
While the broader market struggled last week, basic materials sector enjoyed an excellent run as some robust economic data from China lifted investors’ sentiment on commodities. Copper prices rose sharply last week. Shares of mining giants such as BHP Billiton (ADR) (NYSE: BHP), and Rio Tinto Plc (ADR) (NYSE: RIO). It will be interesting to see if the sector can continue its excellent run amid signs of improvement in the Chinese economy.
Original Post :- View to Original post Click here
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