Analysts don't expect annual holiday Wall Street rally this year
Trepidation about everything from election politics to interest rates and valuations has left them bearish
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New York
IT has been low-hanging fruit for decades: buy stocks when the leaves start to turn in the north-east, and get ready to harvest gains. But this year, the crop looks spoiled.
That is going by forecasts from Wall Street strategists, whose trepidation about everything from election politics to interest rates and valuations has left them in an unusually bearish mood before this year's holidays. Among 19 surveyed by Bloomberg, the average estimate calls for the S&P 500 Index to end 2016 at 2,171, about one per cent below where the gauge closed on Thursday.
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