Shawn Snyder is the head of investment strategy for Citi Personal Wealth Management. The opinions expressed in this commentary are his own. On Christmas Eve last year, the S&P 500 bottomed out at 2,351 after months of selling. Since then, a shift in the Fed’s monetary policy and an eventual easing of US-China trade tensions has helped drive the S&P 500 28% higher. Heading into 2020, Citi predicts that global equity markets will see further, albeit modest, upside with the S&P 500 finishing the year at 3,375. That’s a potential return of around 5% to 6%. It is worth noting that the market could rally past this target early in the year as investors “chase gains,” but then give some ground back in the second half. Certain sectors, such as industrials and financials, that are most sensitive to the business cycle may get an additional boost if trade tensions continue to ease. However, this trend may eventually reverse when investors become more defensive as they prepare for policy changes ahead of the US presidential election. Overall though, 2020 looks like it should be a solid year for US investors as the strong momentum from 2019 is likely to carry over…. Read full this story
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