Global markets see-saw from post-Brexit volatility
On this week’s market update Chief Investment Strategist Erik Ristuben discusses the 180-degree turn in the global markets throughout the week, noting the rallies in the FTSE 100® Index, STOXX Europe 600 Index and S&P 500® Index following the shock of Britain’s vote last week to leave the European Union (EU). He also reiterates his comments from last week’s episode regarding the fact that there will not be a definite answer to the long-term impact of Brexit on equity markets for some time.
With U.S. earnings reporting season right around the corner, Ristuben expects the second quarter earnings growth to remain in negative territory given the fact that U.S. stocks are quite expensive right now, yet expects positive earnings growth in the third and fourth quarters of 2016.
Concluding this week’s recap, Ristuben discusses why investors should consider a globally diversified multi-asset portfolio amid the market volatility in 2016, and explains why he sees opportunity in Europe and emerging markets.