We’re back at all-time highs.
In his investment strategy update for September, John Stoltzfus, chief market strategist at Oppenheimer, sees a chance for stocks to run higher still.
“In the near term we expect that investors could just as easily bid stocks somewhat higher as they seek a catalyst for some profit taking. So long as tensions in the Middle East, Ukraine, and elsewhere around the globe remain on the front burner, a certain unquantifiable degree of uncertainty is likely to remain an overhang to market performance,” Stoltzfus writes.
Overall, Stoltzfus still reiterates his call for the S&P 500 to finish the year at 2,014, with volatility likely persisting, “as both the bond and stock markets practice price discovery in anticipation of adjustments that could lie ahead in Fed policy and interest rates as the world turns and the economic expansion moves forward.”
Thanks to Oppenheimer & Co. for giving us permission to run the presentation.