Can Stocks Keep Rising Or Is A Correction Imminent? Here’s What To Expect Next, According To Eight Wall Street Experts
1 min readPhoto caption: Stocks keep rising but how much longer will the rally last?© 2019 Bloomberg Finance LP. Article by Palash Ghosh. Forbes – February 17, 2021.
It seems stocks are going in just one direction these days—up. Major U.S. stock indexes closed at or near record highs on Tuesday extending a bull rally that has seen the S&P 500, the Dow Jones Industrial Average and Nasdaq Composite indexes surge 75.8%, 69.7% and 104.8%, respectively, since March 23 lows last year. As of Tuesday, the S&P 500 had a trailing twelve month price-earnings ratio of 40.04 – the highest level since October 2009. The extraordinary jump in equity prices in less than a year – during a period of economic distress amidst a global pandemic – has raised worries in some corners that the market is overvalued and due for a correction.
Eight market experts predict the likelihood of a correction and identify sectors and stocks likely to be hurt in the downturn, and contrarily, which sectors would be buoyed further by a continued rally. […]