Overnight saw another solid session for US stocks with the major indices hovering around their all-time highs and the Dow outperforming as the value stocks embraced the tepid GDP data. Our ideal target for this almost stately index remains ~36,000, or around 3% higher. Also disappointing jobs data lent some weight to the Feds recent comment “we have a ways to go for the labour market to recover”.
MM remains a keen buyer of US stocks into the next period of weakness
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