Big bank profits fueled Wall Street’s rally, pushing the Dow Jones Industrial Average (^DJI) and S&P 500 (^GSPC) to new highs despite a historically weak period for the market.
GLOBALT Investments Senior Portfolio Manager Thomas Martin joins Market Domination Overtime to discuss market trends and prospects for 2025.
“September and October of this year are supposed to be a time when trends are moving very cautiously. And that was canceled out, probably due to the Fed, but also simply because of the strong economic information coming in. “It seems like it is,” Martin told Yahoo Finance.
As the S&P 500 marks its second anniversary of a bull market, he believes the next rally will come from earnings. He noted that second-quarter earnings were very strong, and although third-quarter earnings will slow slightly, investors still expect some growth.
Furthermore, he expects the market to further expand from technology-driven by 2025. The move will be driven not only by revenue growth but also by consumer resilience as the Federal Reserve continues to cut interest rates.
For more expert insights and analysis on the latest market trends, learn more about Extended Time of Market Domination here.
This post was written by Melanie Leal
