While some stock market participants warn that the five-year rally is coming toward an end, Danielle Hughes, CEO of Divine Capital Markets, begs to differ.
September is historically the market's weakest month, but that's not the most important factor here, she told
Yahoo.
"All bets are off the table in terms of cyclicality," Hughes stated.
Editor’s Note: 5 Shocking Reasons the Dow Will Hit 60,000
"You've got this incredible Fed that is providing a mattress for years and years, . . . and the jobs numbers are going to keep the Fed more dovish."
Non-farm payrolls rose a disappointing 142,000 in August. The central bank will refrain from raising interest rates longer than some had expected, Hughes noted. And that means "the party in the stock market is going to continue."
Many economists predict the Fed will increase rates in the second or third quarter of 2015.
Hughes has harsh words for stock market bears. "They're embarrassed," she said. "It's about time for them to start thinking about retirement, because they've just had five years of returns taken away."
Other market participants agree that the Fed will wait to raise rates.
"There are still a number of people who fear the Fed will raise rates too soon, but I don't think there's anything to be gained by being early in raising interest rates," John Manley, chief equity strategist for Wells Fargo Funds Management, told
Bloomberg.
"If the Fed tightens too soon, it will drag the U.S. and the world into another recession."
Editor’s Note: 5 Shocking Reasons the Dow Will Hit 60,000
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