US Equity Market Could Rebound And Go To New Highs
Tip TV | Oct 22, 2015 14:37
Ken Odeluga, Market Analyst, City Index, joined Tip TV in today’s Finance Show to offer the outlook for US equities, the S&P 500, and the Anheuser-Busch Inbev SA (L:0O1Z)-SABMiller (L:SAB) deal.
Odeluga explains the reasons behind his bullish view for US equities. He states how the fundamental backdrop, Fed’s uneasiness to raise rates and the stabilising stock market situation in China will be beneficial for the US stock markets.
He shows how the longer-term charts pose a positive picture for the US equity indices, and when looking at the returns in the treasury market, the stocks look more appealing for investment.
h3 S&P 500: Monthly charts suggest painting a positive picture/h3He looks at the weekly chart for the S&P 500 equity index, noting that the stochastics remain overbought and heading towards a cross and suggesting retracement ahead, but this goes against the monthly charts which show that the previous selling and sentiment was overestimated.
h3 AB InBev – SABMiller (L:SAB) deal/h3Odeluga highlights a chart with the free cashflow yield of both the companies, noting that we remain in a decline from 20th August.
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