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Inflation is still in the driver’s seat
No matter how good or bad third-quarter earnings are, pervasive macroeconomic volatility is going to remain firmly in control, says Matt Orton, CFA, Chief Market Strategist at Raymond James Investment Management.
Yet Orton says this remains an attractive environment for long-term investors. Flexibility is key, he says, and there are a growing number of opportunities for stock pickers. Floors are starting to form within “the market of stocks,” he says, but they’re unlikely to have enough demand to achieve escape velocity until credit conditions peak. As a result, ranges will form and investors will have the chance to pick their levels.
But don’t chase the market higher, Orton says.
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For more market perspective
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