Bank of America: time to sell stocks
BoA has tracked signs of the upcoming stock market sell-off. While more expensive and at-risk stocks are set to fall, value stocks should survive.
American equities are braced for fresh records
On Tuesday, American equities were braced for pushing further into record territory, with futures ascending cautiously because market participants eagerly waited for the Fed gathering to kick off.
Stocks for the Dow Jones Industrial Average YMZ7 rallied by 14 points hitting 22,313, and those for the S&P 500 index ESZ7 tacked on 1.05 points being worth 2,503.75. Additionally, futures for the Nasdaq-100 Index NQZ7 gained 2.25 points trading at 5,989.
The subtle moves arose after the Dow average DJIA demonstrated its 40th record close of 2017on Monday, and the S&P 500 index SPX concluded at an all-time maximum for the 35th time this year. As for the Nasdaq Composite Index COMP, it inched up too, concluding Monday at its second-highest outcome ever.
The Fed is believed to announce it’s on the verge of cutting its $4.5 trillion portfolio of government securities when it issues its policy update on Wednesday.
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