REPORT: ‘Panic buying’ likely to drive stock market higher in the near term

CNBC:

Stocks could get a short-term boost as fear of missing out on gains leads more investors to plow more money into the U.S. equity market, analysts said.

The S&P 500 posted its seventh weekly gain in eight last week, rising more than 2 percent in that time period. The surge in stocks comes as investors increasingly bet China and the U.S. will strike a trade deal in the near future. It also follows the Federal Reserve signaling it will be patient in tightening monetary policy moving forward.

The article goes on to state the following:

“It seems a ‘panic buying’ mood, with purchases by investors who had been lagging the broader market, has strengthened,” Masanari Takada, a cross-asset strategist at Nomura, said in a note Monday. “Systematic trend followers that had temporarily suspended buying after the weak US retail sales print have also been compelled to follow the market by adding fresh longs.”

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Author: Dean Daniels


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