Guggenheim recently released its 3rd Quarter Equity Market Views. Topics include:
Looking Back – Q2 Review
For the second quarter, the S&P 500 Index produced a total return of 4.30 percent, the NASDAQ Composite gained 3.88 percent and the Dow Jones Industrial Average tacked on 3.21 percent. Gains were widespread with 10 of the 11 S&P sector groups finishing in positive territory.
In light of the strong year-to-date gains, the ongoing uncertainty surrounding the trade spat with China, and signs the global economy is slowing, Guggenheim has shifted to a more neutral outlook for risk assets.
Positioning /Sector Thoughts
The growing list of risks continue to favor a position in quality stocks, as they exhibit a strong earnings profile, are well-positioned in the current stage of the business cycle, have little correlation to volatility and have outperformed in the long-term with attractive risk-reward characteristics.
Key Return Drivers
- Earnings Growth
- Multiple Expansion
- Portfolio Flows
For more information regarding Guggenheim’s 3rd Quarter Equity Market Review and to read the full paper including UIT Investment Implications, please click on the link below:
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