The S&P 500 stock index will see limited gains in the remaining months of 2019 a...
NEW YORK - The S&P 500 stock index will see limited gains in the remaining months of 2019 as anxiety over slowing global growth and the U.S.-China trade war weigh against expectations of monetary policy easing, according to a Reuters poll of strategists.
“You have slow global growth. You’ve got a yield curve inversion. You’ve got a lot of uncertainty around trade tariff policy and a Federal Reserve that, by all accounts, is probably behind the curve right now, cutting too slow, based on financial conditions,” said Darrell Cronk, chief investment officer for Wells Fargo Wealth and Investment Management in New York.
But the U.S-China trade war looms large as a key risk to bullish targets for the market. Strategists are concerned that higher prices resulting from tariffs could result in slower global trade and a weakening international economy. While the S&P’s close on Tuesday showed a year-to-date gain of 14.45% and was roughly 5% below its record close on July 26, daily volatility since then has often been attributed to dramatic changes in the tone of U.S. President Donald Trump’s comments about the trade war.
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