During a Webinar in late April, Sam Stovall, S&P’s chief economic strategist, discussed the equity market outlook. Stovall believes that from economic, fundamental, technical, and historical perspectives, the S&P 500′s decline of 18.6% was most likely the low. “The worst is likely over,” Stovall said before he went on to list reasons for the turnaround: interest rate reductions, the tax stimulus package, aggressive prior writedowns, export growth, and share buybacks. According to Stovall, full-year 2008 projected GDP growth is set at 1.1%, and the year-end 2008 S&P 500 target is 1560. Stovall also revealed S&P’s sector recommendations–overweight consumer staples and materials and underweight healthcare and utilities.–Kara P. Stapleton
In addition, a report says, consultancy NEPC has advised investors to end their relationship with Fisher Investments.
Also, Fidelity adds to its index fund offerings.
Almost half of investors surveyed increased factor allocations in the past year.
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