Entering Wednesday, the Dow had gone 112 trading sessions without three down days in a row, the longest such period in the blue-chip index's history.
The winning streak reflected the steady demand for stocks that had given the market a strong start to the year and kept selloffs short and shallow. The end of the streak comes as investors are more uncertain about the course of Federal Reserve policy, which has been an important driver of the stock market's rally.
"The market had a year's worth of gains in four months," said Tim Hoyle, director of research with Haverford Trust, which oversees about $7 billion of assets. "Volatility coming back doesn't surprise us. We're due for a little bit."
"The way that the market was acting, going up in a straight line, was unsustainable," said Andres Garcia-Amaya, global-market strategist at the mutual-fund arm of J.P. Morgan Asset Management, which oversees $400 billion. "I do expect markets to get a little bit more wobbly."
Source: Wall Street Journal
The information contained in this article does not constitute a recommendation, solicitation, or offer by D2 Capital Management, LLC or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service. D2, its clients, and its employees may or may not own any of the securities (or their derivatives) mentioned in this article.
The Jacksonville Business Journal
has ranked D2 Capital Management in the top 25 of Certified Financial
Planners in Jacksonville. The Firm is also a member of the Financial Planning Association of Northeast Florida.
No comments:
Post a Comment