SSGA’s Arone On The Forward-Looking Equity Market Outlook

Michael Arone, CFA, Chief Investment Strategist, US SPDR Business, State Street Global Advisors, joined Keith Black, Managing Director of RIA Channel, to discuss the opportunities, contradictions and risks in today’s equity markets. 

While Arone expects employment, economic growth, and earnings to weaken this year, he also points to the possibility for markets to rally as they look forward to better times ahead. While growth stocks posted strong returns to start this year, value stocks and small cap stocks may have strengthening performance.

International stocks are also well-positioned to outperform, explains Arone. Compared to US stocks, International stocks are currently trading at a discounted valuation, while producing stronger revenue and earnings growth for the last three quarters.  A potential reversal in the strong dollar, which often happens after the end of a Fed tightening cycle, could also be a strong tailwind to investors in developed international markets. 

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