“Everybody seems to be doubting the economic expansion, partly due to the European situation and partly due to consumer confidence. A lot of economists, analysts, and investors have short-changed the economic expansion we’re in now,” Brad Sorensen, director of market and sector analysis at Charles Schwab, said.
Future performance of the NASDAQ index for the remainder of the year is dependent upon major news coming from the Eurozone. The Federal Reserve’s decision to pump more liquidity into the U.S. economy, or not, will also be a factor. Certain analysts argue that equities could be on their way down after the latest rally, however, there are others that think the issues in Europe will push more investor assets into the U.S. market, reports The Telegraph. [Stock ETFs See Bullish Technical Signal]
PowerShares QQQ (NasdaqGM: QQQ)
Tisha Guerrero contributed to this article.