Wednesday , 6 November 2024
Home Forex HSBC forecast a near-term US stock market rally, citing reasons to be cautious
Forex

HSBC forecast a near-term US stock market rally, citing reasons to be cautious

HSBC says there are reasons to cautious in the US equity markets, including:

  • seasonality
  • US election

But:

  • we think the market may have got the order of the positioning the wrong way around
  • Low near-term US earnings expectations now set us up for a further squeeze higher in equities

After the election it could be a different story though:

  • we are starting to become increasingly skeptical about a sizable post-election rally
  • Our view continues to be the exact opposite of the apparent current consensus: if we had to sum it up real quick, do the opposite of what worked in Q3

This article was written by Eamonn Sheridan at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Eurostoxx futures +0.2% in early European trading

German DAX futures +0.2%UK FTSE futures +0.5%They've turned higher now in the...

Germany September industrial orders +4.2% vs +1.5% m/m expected

Prior -5.8%; revised to -5.4%German manufacturing orders bounced back in September after...

Fox News calls Wisconsin in favour of Trump

As of the current tally, Wisconsin has counted 88% of votes with...

Chinese yuan feels the pinch with Trump set to win US presidency

The onshore yuan is sinking to its lowest since mid-August against the...