Allegiant's Senior Research Analyst Will Geisdorf, CMT, has been quoted in MarketWatch today:
Dow, S&P 500 Set New Records on Rosier Economic Outlook
An excerpt of the article is available below. Click here to read the full Market Snapshot published on April 5, 2021.
The data "affirm that we're about to see some of the strongest data we've ever seen," said Will Geisdorf, senior research analyst with Sarasota, Florida-based Allegiant Private Advisors. "If there were any doubts out there, the jobs report last week put that to rest."
That means there's still more upside for the rotation into value stocks, Geisdorf told MarketWatch. The tech-heavy Nasdaq was rallying Monday, as investors gauged the selloff in bellwether stocks like Apple Inc. and Amazon.com Inc. to be overdone. Still, if corporate taxes do go up, "healthcare is vulnerable and tech is in the crosshairs," he said.
The rebound in stocks over the past few weeks has been impressive, Geisdorf said. "There's been strong breadth across the board. There's room for stocks and rates to go higher together but a dramatic run-up in rates could derail the market in the short term."
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