After a rough-and-tumble start to the year, markets are beginning to recover once again. Stocks yesterday inched towards record highs in spite of a slew of mixed news and earnings.
So where do they go from here?
“I’m constructive about this market,” says Carla Harris, vice chair of global wealth at Morgan Stanley and chair of the National Women’s Business Council. “You still have all-time high cash balances sitting on corporate balance sheets, you still have record low interest rates and you have an economy that, especially from a labor perspective, is continuing to improve. Everything points to a good market environment.… Frankly I’m very bullish on this market.”
Harris understands that investors are still cautious but argues that they are cautiously optimistic whereas 24 months ago her clients were cautiously pessimistic.
For those who have been on the sidelines and now fear it’s too late to get into the market, Harris says there’s still time. If you look at industry valuations, says Harris, there are still certain areas that haven’t yet reached their highs.
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