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Stock markets across world rally, U S markets join the fray
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Stock markets across world rally, U S markets join the fray
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(Reuters) - Geneva-based Pictet Group’s asset management arm expects the S&P 500 to rise 10% from its current levels, with improving economic growth and easy monetary policy helping to extend its rally.
FILE PHOTO: People walk past the New York Stock Exchange (NYSE) amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., February 3, 2021. REUTERS/Carlo Allegri/Files
The S&P 500 has risen around 21% from its October lows, and closed on Wednesday at 3909.88 points.
“There is a risk of a melt up in a way, in the U.S. especially, and you don’t want to stand against it,” Luca Paolini, chief strategist at Pictet Asset Management, told the Reuters Global Markets Forum on Wednesday.