BlackRock Chief Investment Officer of Global Fixed Income Rick Rieder tells Julie Hyman that despite the S&P (^GSPC) and Dow (^DJI) both notching record highs in the past week, with some analyst forecasts suggesting the S&P could reach 6,600 or 7,000 at some point in 2025, he says, “I don’t love the multiple of equities.”
However he notes that the technicals are “crazy good” for equities. From Rieder’s perspective, a major issue is that there are “no sellers” when it comes to equities, particularly when it comes to companies buying back their own shares. Ultimately, Rieder says, “even if you believe in the fundamentals, the technicals win more” when it comes to equities, saying higher prices are a natural outgrowth.
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This post was written by Kayla Hawkins.
