S&P 500 Will Continue Rising But Earnings Better Come Along for Ride, Strategist Says
After bouncing back strongly from the Brexit selloff, the S&P 500 is up over 6% so far in 2016.
Aug 1, 2016 4:13 PM EDT |Gregg Greenberg | The Street
After bouncing back strongly from the Brexit selloff, the S&P 500 is up over 6% thus far in 2016. Jimmy Lee, CEO of the Wealth Consulting Group, sees the index rising as much as 3% higher to 2,240 before the end of the year.
But if earnings do not rise to support those levels, he said the market could see a correction, and a “meaningful one” at that.
“We have not had a bear market since 2009 so I wouldn’t be surprised if we saw a shock at those levels,” said Lee. “I’d keep cash on hand to buy into this if it happens.”Go Back
The time (at Blue Vault's 2nd Annual Broker Dealer Educational Summit) proved extremely informative.