Why The S&P 500 Could Break New Ground By October While Other Sectors Stumble
Portfolio Pulse from AJ Fabino
Ryan Detrick, chief market strategist at the Carson Group, predicts that the S&P 500 (NYSE:SPY) will break out to new highs by October and November, setting up the market for a strong start to 2024. Despite a rough start to the third quarter, Detrick believes that the market has not yet seen its peak for the year. He notes that earnings expectations have risen by 2% since the beginning of the earnings season and that companies like Walmart Inc (NYSE:WMT) and Lowe’s Companies Inc (NYSE:LOW) have been posting impressive gains in online sales.
August 29, 2023 | 4:29 pm
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Lowe’s Companies Inc (NYSE:LOW) has been posting impressive gains in online sales, according to Ryan Detrick, chief market strategist at the Carson Group.
The impressive gains in online sales reported by Lowe’s Companies Inc is a positive sign for the company's performance. This is likely to have a positive impact on the company's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The S&P 500 (NYSE:SPY) is predicted to break out to new highs by October and November, according to Ryan Detrick, chief market strategist at the Carson Group.
The prediction of the S&P 500 breaking new highs by October and November is based on the analysis of Ryan Detrick, who believes that the market has not yet seen its peak for the year. This is likely to have a positive impact on the S&P 500.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Walmart Inc (NYSE:WMT) has been posting impressive gains in online sales, according to Ryan Detrick, chief market strategist at the Carson Group.
The impressive gains in online sales reported by Walmart Inc is a positive sign for the company's performance. This is likely to have a positive impact on the company's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80