Puxin Group CIO: The US economy has not slowed down, the market will perform well after the election

Zhitong
2024.10.29 07:01
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Sebastien Page, Chief Investment Officer of the investment management company PIMCO, stated on Tuesday that despite mixed data, he does not believe the U.S. economy is slowing down. He said, "I don't agree with the pessimistic view, I lean towards optimism. I don't think the economy is slowing down." He pointed out that the U.S. Gross Domestic Product (GDP) growth rate is higher than at the beginning of the year. Page acknowledged that the market faces uncertainty ahead of the November U.S. election. Recent polls have shown Vice President Kamala Harris and former President Donald Trump neck and neck. He said, "We don't know the outcome. But when we get through this challenge, I think the market will perform well." It is understood that the upcoming U.S. election has sparked concerns on Wall Street, but Scott Rubner, Managing Director at Goldman Sachs, believes that the U.S. stock market will continue to rise until the end of the year, in line with seasonal trends. Historical data shows that November and December are typically the strongest months for stock market returns

According to the financial news app Zhitong Finance, Sebastien Page, Chief Investment Officer of the investment management company PIMCO, stated on Tuesday that despite mixed data, he does not believe the U.S. economy is slowing down.

He said, "I do not agree with the pessimistic view, I lean towards optimism. I do not think the economy is slowing down." He pointed out that the U.S. Gross Domestic Product (GDP) growth rate is higher than at the beginning of the year.

Page acknowledged that the market faces uncertainty ahead of the November U.S. election. Recent polls have shown Vice President Kamala Harris and former President Donald Trump in a neck-and-neck race.

He said, "We do not know the outcome. But when we get through this difficulty, I believe the market will perform well."

It is understood that the upcoming U.S. election has raised concerns on Wall Street, but Scott Rubner, Managing Director at Goldman Sachs, believes that the U.S. stock market will continue to rise until the end of the year, in line with seasonal trends. Historical data shows that November and December are usually the strongest months for stock market returns