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Michael Zinn, a senior portfolio manager at UBS Global Wealth Management, noted that the Santa Claus rally is experiencing a pause after a significant post-election surge, describing it as "indigestion." He highlighted concerns over the market's narrow breadth, with only 40% of S&P stocks above their 50-day moving average, despite rising indexes. However, he remains optimistic about long-term prospects due to factors like AI advancements and economic growth, even as recent retail sales data indicates strong consumer demand.
Michael Zinn, a senior portfolio manager at UBS Global Wealth Management, noted that the Santa Claus rally is experiencing a pause after a significant post-election surge, describing it as "indigestion." He highlighted concerns over the market's narrow breadth, with only 40% of S&P stocks above their 50-day moving average, despite rising indexes. However, Zinn remains optimistic about long-term prospects due to factors like AI advancements and economic growth, supported by strong consumer demand reflected in November retail sales hitting an 11-month high.
Michael Zinn
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Santa Claus Rally Faces Challenges Amid Market Indigestion Says UBS Expert
10:12 18.12.2024
market faces pause amid santa claus rally concerns says UBS expert
10:12 18.12.2024
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