Market rally 'has got legs,' could go 5-10% higher: Strategist
The Dow Jones Industrial (^DJI) briefly crossed 40,000 this week. Global Market Strategist at JPMorgan Asset Management Jack Manley joins The Morning Brief to discuss the significance of this milestone and why he believes the market only has room to grow.
"As long as markets are comfortable with where rates are right now and rates are where they are because the economy is doing well, I think this rally has got legs, especially as we move into the back half of the year," Manley tells Yahoo Finance.
Manley believes the market rally could go between 5 and 10% higher, but signals this forecast comes at the risk of underestimating what the US equity market is capable of.
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"As long as markets are comfortable with where rates are right now and rates are where they are because the economy is doing well, I think this rally has got legs, especially as we move into the back half of the year," Manley tells Yahoo Finance.
Manley believes the market rally could go between 5 and 10% higher, but signals this forecast comes at the risk of underestimating what the US equity market is capable of.
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
- Follow Yahoo Finance on social:
X: Twitter: YahooFinance
Instagram: https://www.instagram.com/yahoofinanc...
TikTok: https://www.tiktok.com/@yahoofinance?...
Facebook: Facebook: yahoofinance
LinkedIn: LinkedIn: yahoo-finance
#stockmarket #yahoofinance #marketrally
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