Excerpt from CNBC quoting DataTrek’s Nick Colas:
…. “However, DataTrek Research co-founder Nicholas Colas is not sold the market is out of the woods yet.
“We are chalking up the S&P 500’s YTD gain of 3.6% primarily to the cessation of tax loss selling in the New Year,” Colas wrote in a note to clients. “That list of the biggest S&P 500 losers in 2018 we published last month is up an average of 9.5% YTD, a data point which supports this idea.”
“From now on, US stocks will have to earn further gains. Earnings season kicks off this week, the market’s first challenge. US/China trade will likely have to wait for Davos, which is 9 days away,” he added”….
Read the full article here on CNBC!