According to Bank of America strategist Michael Hartnett, despite the S&P 500 falling 3% and technology stocks sliding 6% this week, he is not yet moving off his defensive positioning. Hartnett outlined three prerequisites before resuming equity exposure: central banks must halt tightening, the U.S. 10-year Treasury yield must fall to 4.5%, and oil prices must break below $80 per barrel. He expects a year-end rally to potentially begin after Thanksgiving if these conditions align. Until then, Hartnett forecasts the S&P 500 will hold above 7,000 as investors shift risk positioning toward tech bonds, European, and Chinese markets.

View Source

Disclaimer: This content is for informational purposes only and does not constitute investment advice or encourage the buying or selling of crypto assets. It is intended to provide information about industry developments and is not directly related to the services offered by Gate TR. Although information obtained from third-party sources has been carefully reviewed, Gate TR assumes no responsibility for any errors or omissions. Crypto assets involve high risks and may experience significant price fluctuations. Before making any investment decisions, you should assess your financial situation and risk tolerance, conduct your own research, and make decisions independently.