Last quote by Scott Wren
Scott Wren quotes
The market doesn't trade for anything for more than a brief period of time on what might happen two or four years down the road.
This market is trading on the fundamentals over the next 6 to 12 months.
We stand by our long-held stance that the new president, and really any new president, has only a slim chance of changing the trajectory of the economy during their first 12 months in office (and likely even longer).
If Donald Trump wins this thing, you'll see some immediate initial downside. We'll test those technical stops below 2,085 in the S&P 500.
Our work suggests the S&P 500 trades to the top end and possibly slightly beyond near the middle of next year. In other words, the high water mark for stocks in 2017 is likely to be mid-year.
The Fed does not change based on who wins. The Fed appears to be setting the table for a hike at the December meeting, but the equity market should take that in stride as the market has been given a heads-up well in advance.
We've been telling our clients for a year: The trajectory of the economy will remain the same during the next 12 to 18 months of the new president's term no matter who is elected.
The market might worry or think about what might happen two or three years down the road based on who is president, but only for a very short time. The market will quickly get back to trading on what the economy and earnings are going to look like over the next six to 12 months.
You're talking an excess of 8 percent, and that's why we still like stocks.
But then the market's going to get back to [focusing on] earnings and the economy over the next 6 to 12 months.
We've moved very broadly to these record highs, so when we look ahead that's the type of behavior we'd expect to see again.
In that kind of environment where things are broader, stock picking is less important and you want to have broad exposure to the S&P 500.
Today's U.S. data was stronger and any time you get a sentiment number out of Germany that is worse than expected, that combination is going to give the dollar a little bit of a push against the euro.
I've argued over the past five years that the U.S. stock market has largely been a safe haven and I continue to believe that.
If there is an exit vote, you know we want our clients in here stepping in to buy U.S. large-cap stocks.
I think it's going to cause a lot of volatility around the U.K. and a lot in Europe but I don't see the longer-term effects. If we get some downside here from it in stocks, I think it's a buying opportunity.