Yahoo Finance Video
Carson Group Chief Market Strategist Ryan Detrick foresees a rally in bond and equity markets despite economic uncertainties. With the snapback off correction lows, Detrick notes broad participation as productivity strengthens, jobs growth persists, and earnings forecasts brighten for 2024. Though admitting all is not perfect, Detrick’s bullish posture stays intact with an "Overweight" stance on stocks amid no signs of imminent recession risks in areas like small caps — which he believes is favorable for investors. If the Fed pivots dovishly, Detrick expects smaller companies to outperform as valuations grow increasingly attractive relative to lagging defensive sectors like consumer staples, utilities, and real estate. As the 2024 presidential election approaches, Detrick does believe slight market changes will occur across policies, Federal Reserve decisions, and other factors. However, Detrick believes political shifts alone seem unlikely to derail markets. "There's a lot of other factors, we're aware of that," Detrick tells Yahoo Finance, adding: "But when the fundamentals are there, it is what it is." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Yahoo Finance 