Need to Know: Don't panic, but do mind earnings, cautions BNY Mellon strategist
China blasted out pretty upbeat exports data Friday, setting the tone for what could be an upbeat day, helped by upbeat results out of J.P. Morgan and Wells Fargo.
Young isn’t scared of a correction itself, even as she says recent markets activity has her thinking the chances of a pullback are more likely. “The fourth quarter was hard for people who hadn’t seen a pullback like that in a long time. People got scared and pulled money out. I don’t blame them,” she said. A historical bear market without a recession can mean a pullback of 15% to 20%, while a bear market with a recession can mean a drop of 30% to 40% or more.
Europe stocks SXXP, +0.14% are higher. Asian equities were a mixed bag, with a gain for the Nikkei NIK, +0.73% while China stocks SHCOMP, -0.04% pared after data on trade and stronger lending to banks.The chart Overly bullish stock investors may be pushing this market toward a pullback, says our chart of the day, from Hedge Fund Tips blogger T.J. Hayes.
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