Wall Street angst is essentially overdone: PNC’s Jeffrey Mills


“The China thing is going to be with us for a while,” said Mills, referring to a new round of tariffs both countries slapped on each other last week. “You do have to pay attention to the fact that trade fears will stay with us. So expectations have to be muted to a degree.”

Yet, Mills expects the S&P 500 Index will see a positive year.

“I think that the fundamental earnings story does win out over time,” he added, noting that the S&P is up 6 percent so far this year. According to Mills, it’s a number that should be embraced, not criticized.

“The key there is looking ahead to the numbers in Q3, Q4 and then in 2019,” Mills said. “We haven’t seen any degradation in those forecasts yet. I think as long as that’s the case, the market is going to have some solid foundation underneath it.”

Source link

Products You May Like

Articles You May Like

Lilly’s cancer therapy Lartruvo fails study, shares drop
Seniors worry as shutdown jeopardizes rental assistance programs
Blue Apron shares soar after company says it will be profitable
RAM Trucks wants a bigger piece of heavy-duty trucks
Jamie Dimon says a hard ‘Brexit’ would be a disaster for the UK

Leave a Reply

Your email address will not be published.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