Categories: Market Overview

S&P 500 could rise 15% this year — but it’s time to take some profits, says investor

Many stock markets globally have continued their strong run into the new year — so it’s time to start taking some profits while waiting for another opportunity to reenter the markets, an investor said on Tuesday.

“I’m actually starting to think about trimming back some of the exceptional gains we had last year and coming through into this,” Simon Fentham-Fletcher, chief investment officer at Freedom Asset Management, told CNBC’s “Capital Connection.”  “So from my perspective, yes, I think it is time to start taking 1, 2, 3% off and … put away some cash (so) that you can come in when there’s a 5 to 10% correction,” he added.

Fentham-Fletcher predicted that the S&P 500 could rise by 15% by the end of this year. He said the climb in the stock index will likely be driven by an improvement in corporate earnings amid a still-strong U.S. economy. But if earnings don’t recover and continue to slide, the stock market could correct — and investors with some cash on hand could find a window to invest again, he explained.

“I still think the overall environment for equities has very strong growth impetus,” said the CIO. He added that his top trading idea this year is investing in emerging markets assets. He predicted that there’ll be a flow of money going into emerging markets given that some uncertainties, including the U.S.-China trade war, appear to have receded for now.

S&P 500 could rise 15% this year — but it’s time to take some profits, says investor, CNBC, Jan 14
The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team

Recent Posts

Nasdaq 100 Wave Analysis 23 December 2024

- Nasdaq 100 reversed from strong support level 21000.00 - Likely to rise to resistance…

1 day ago

USDJPY Wave Analysis 23 December 2024

- USDJPY reversed from key support level 156.35 - Likely to rise to resistance level…

1 day ago

US indices: has the bullish trend broken?

The recent declines in US indices may have broken the bullish trend, indicated by technical…

2 days ago

Dollar: Slowing Momentum, Same Direction

The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…

2 days ago

Bitcoin Fell Back to Local Support

Bitcoin finds support near the 50-day moving average, but further declines in the stock market…

2 days ago

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

5 days ago

This website uses cookies