David Sadkin quoted in “Nasdaq, S&P 500 Futures Climb After Thursday’s Strong Rebound, Bitcoin Sizzles: Analyst Predicts A Roller Coaster Ride For Stocks Until This Happens.”
August 9, 2024
“Nasdaq, S&P 500 Futures Climb After Thursday’s Strong Rebound, Bitcoin Sizzles: Analyst Predicts A Roller Coaster Ride For Stocks Until This Happens.” by Shanthi Rexaline, Benzinga
David Sadkin, President at Bel Air Investment Advisors, said the markets appear to be entering into a correction phase, with the much-loved tech sector leading the way. The strategist is sanguine, as he pointed to the economy, which while slowing, is continuing to expand, the better-than-expected European GDP growth and robust earnings growth. He expects the market to end higher by year-end.
If the economy does slow, the Fed has leeway to cut rates and boost liquidity by other means to cushion any potential downside, Sadkin said. “Also, as we get more clarity on the geopolitical and the US political landscape, the market will likely settle down and continue its upward trajectory,” he said.
“Long-term investors will weather a slowdown by remaining dispassionate and focusing on fundamentals rather than market panic.”
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