Markets want to rise despite headwinds: Strategist

#stockmarket #stocks #yahoofinance #middleeast

Stock markets (^DJI, ^IXIC, ^GSPC) are experiencing sharp sell-offs as Middle East tensions escalate, following Iran’s launch of approximately 200 ballistic missiles at Israel on Tuesday. CFRA Research Chief Investment Strategist Sam Stovall joins to discuss the implications for markets.
Stovall advises investors to consider the potential duration of the Middle East tensions. He observes, "When you see the market really take a dive and embrace the defensive sectors," but then recover, he notes, "I am very impressed with the fact that the market has been able to take a three-punch" combination of the port strike, Fed uncertainty, and now Middle East tensions. He asserts that "this market wants to head higher." However, Stovall warns that if the conflict between Iran and Israel intensifies, oil prices could rise towards $85 or higher per barrel.
Given that it’s also an election year, Stovall points out that September and October tend to be the most volatile months for markets. Nevertheless, he notes that historically, once the election passes, stocks across the board typically post gains in the last two months of the year.
For more expert insight and the latest market action, click here to watch this full episode of Market Domination.
This post was written by Angel Smith

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