Published on 12 Nov 2024 on Benzinga
US Stocks May Cool As Trump Win-Fueled Rally Nears Potential Pause Amid...
Citigroup Inc. forecasts a blip in the ongoing stock market rally, which has been unfolding since the U.S. presidential elections. As per the strategists at Citigroup, the rally fueled by Donald Trump‘s return to the White House will lose steam as investors start to book profits.
What happened: The markets have been upbeat since last week as the S&P 500 Index hit its 51st record high this year. Citigroup strategists led by Chris Montagu said that the long positions in the technology-heavy Nasdaq 100 Index and the small-cap Russell 2000 reflect "an extremely bullish outlook,” according to a Bloomberg report.