Will this bull market last? Which sectors should investors look at—and avoid—right now?
That’s what Chaikin Analytics’ founder and CEO Marc Chaikin discussed last Friday on Bloomberg Radio, the world’s only global 24-hour business radio station with over one million listeners across the U.S. He shared his outlook on the current market, sectors, and stocks, all based on the Chaikin Power Gauge stock rating model.
Here’s what he had to say about the durability of the current bull market:
Carole Massar, co-anchor of “Bloomberg Markets”: Marc, nice to have you here on Bloomberg Radio. I’ve got to talk a little bit about this market. It’s kind of, I feel like, the “bull market that nobody seems to like.” Do you agree and does that portend good things for stocks to continue to move up?
Marc Chaikin: Well, Carole, I think that the market is moving higher. We’ve had a long-standing target of 2450 – 2500 on the S&P 500 index, and the reason I’m bullish here is that we’ve gone from a Fed-driven bull market to an earnings-driven bull market. I think this is now a global earnings-driven bull market and that just enhances what’s been going on here in the states.
Listen to the full Podcast clip below to hear what Marc has to say about Tesla (TSLA), why investors should avoid the auto parts sector right now, why he’s Bullish on Callaway Golf (ELY), and much more: