BofA Strategist Hartnett Warns S&P 500 Rally Draws Investor Skepticism
- Strategist says doubts are rising as Europe, China outperform
- Sees expectations for fiscal moves if S&P drops as much as 6%
There’s growing “suspicion” among investors about the scope for more S&P 500 gains at a time when European and Chinese stocks are outperforming, according to Bank of America Corp. strategist Michael Hartnett.
“The longer it takes and the harder it is for the S&P to get to new highs, the doubts grow,” Hartnett said in an interview on Bloomberg TV. “Europe’s working, China’s working, even bonds in America are starting to work.”