Wall Street has been waiting for a year end rally, but some strategists say it’s more likely the market will see more selling before staging a real comeback.
Investors have been counting on the fact that midterm election years are often good for the stock market in the final months of the year. However, this year’s October sell-off has extended well past the election and into November.
“The market’s going to want a little more clarity around the issues we’ve been talking about—trade, global growth and what are the expectations for the Fed. I think it’s going to be dependent on those types of things rather than that it’s after the midterm election,” said David Lefkowitz, senior Americas equity strategist at UBS Global Wealth Management.
