Most traders remain bullish overall as global economic growth and accommodative central bank policies around the globe may still fuel the economic expansion.
“It seems like as soon as the market pulled back, the buyers sitting on the sidelines decided they couldn’t take a chance of missing the rally and they jumped back in,” Dan Miller, director of equities at GW&K Investment Management, told the WSJ. “Stocks are still quite attractive compared to everything else out there.”
While the equities market has rallied on hopes of policy changes, the economy remains strong with improving fundamentals to continue supporting growth.
“This market is driven by two things – the hope of policy agenda getting put into place and improving fundamentals,” Art Hogan, chief market strategist at Wunderlich Equity Capital Markets, told Reuters. “Whenever you found out that the agenda might take longer to get put out, you’ve gotten some piece of economic data that reminds you that the fundamental backdrop is still strong.”
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