Doug Cohen featured in Morningstar’s Market Snapshot
On Monday December 10, 2018, Morningstar published its daily market snapshot, featuring Doug Cohen, managing director of portfolio management. In the article, “Nasdaq Bucks Trend to Rise as Broader Stock Market Pares Earlier Decline,” reporters Sue Chang and Chris Matthews describe that concerns over global growth continues to drive markets lower after new data showing a sharp slowdown in Chinese export growth “reinforced fears that the best of the current bull market is behind us.”
However, there are numerous indicators, including increased demand from manufacturers and service providers and an increase in the number of U.S. job openings, that support the bull case that the U.S. economy could grow at a healthy pace into next year.
The article reports that investors are also increasingly focused on the Dec. 18-19 Federal Reserve meeting, where the central bank is widely expected to raise interest rates. “Comments from Fed Chairman Jerome Powell will be in the spotlight, and if he strikes a more conciliatory tone, hinting at a slowing of future hikes, it could spark the highly anticipated Santa rally.”
Cohen remarks that a rise in oil prices is another indicator of investor sentiment, giving “equity investors hope that interest rates won’t rise significantly from here.”
The full article can be read here.
Doug Cohen is a senior member of the Portfolio Management team and is responsible for delivering investment advisory services including asset allocation, portfolio construction, and other portfolio management-related services. In addition, Doug oversees the firm’s New York office.