Need to Know: Why this major bull thinks his S&P 500 view is too 'conservative'
The good news? U.S.-China trade talks are still happening and Beijing’s top negotiator, Vice-Premier Liu He, is expected to attend talks this week in Washington.
Golub, in an interview with MarketWatch on Monday, said that his upbeat outlook for equities remains undeterred by recent moves. The strategist says his current year-end target of 3,025 for the S&P 500 seems rather tame. It “seemed so bullish, and now it seems so conservative,” Golub said. The Credit Suisse analyst had begun the year with a 3,350 last year, but slashed it to 2,925 during December’s volatile market action.
"And if those are the outcomes, then yes, this will increase volatility for a period of time, but it’s possible the results here are positive ones,” he said. And the stocks they like? Golub points to tech plus — i.e., technology stocks plus communications services stocks and internet — but says he’d probably avoid some parts of the economy that are most economically sensitive, such as industrials and metals stocks.
“If you’re an EM watcher and you didn’t see this coming, you have nobody to blame but yourself,” writes blogger The Heisenberg report, who said this was a well-telegraphed outcome. Also keep an eye on the iShares MSCI Turkey exchange-traded fund TUR, -2.98%
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