U.S. stocks will keep rising in 2020 but at a much more modest pace than this ye...
NEW YORK - U.S. stocks will keep rising in 2020 but at a much more modest pace than this year, with plenty to potentially slow the ascent, according to a Reuters poll of strategists.
Most - 15 out of 21 respondents - said they expected the bull market would extend into 2020 and run for at least a year. “Comparisons are going to be easier next year” for earnings, said Brian Belski, chief investment strategist at BMO Capital Markets in New York. “Everyone is so focused on near-term earnings and how they’re negative. That’s not the way to look at it.”Following 2018’s sharp, tax-cut fueled gains, S&P 500 companies are expected to increase earnings overall by just 1.1% in 2019. Growth is forecast at 10% for 2020, according to IBES data from Refinitiv.
Among the biggest uncertainties for the market will be the drawn-out trade war between the United States and China, which stands to further hurt global growth, and the 2020 U.S. presidential election, strategists said.Almost all respondents said the market would see further upside in the event of a partial trade deal, with some seeing the potential gains as significant.
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