21:49, 07-Feb-2018
Bull Market Will Continue: No hint of recession or rapid rate hikes
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However, Stovall said the sharp losses this time doesn't necessarily mean the end of a bull market, and that the new Fed chair is more likely to ease rate hikes, so investors don't have to worry too much at this point.
SAM STOVALL, CHIEF INVESTMENT STRATEGIST CFRA RESEARCH "Even though I think prices could decline even further, I think we will remain in a bull market, because I don't see a recession on the horizon, bull markets don't die at old age, it dies of fright, what they are most afraid of is an economic recession, and that is not the case today."
"I think Powell is very much like Janet Yellen, he is not somebody to tighten rates really quickly, I think he will pretty much carry Janet Yellen's policies forward, which will not end up scaring the overall stock market."