Earnings growth and the return of investors to equities will extend the U.S. bull market into a fifth year, said Tobias Levkovich, the most accurate Wall Street strategist on the Standard & Poor’s 500 Index in 2012.
U.S. stocks climbed, giving the Standard & Poor’s 500 Index its biggest weekly rally since June, after data showed German business confidence unexpectedly expanded and the American holiday shopping season began.
Sept. 13 (Bloomberg) -- Abby Joseph Cohen, a partner and strategist at Goldman Sachs Group Inc., Steven Einhorn, vice chairman of Omega Advisors Inc., Jean-Marie Eveillard, senior adviser for First Eagle Investment Management, and Tobias Levkovich, chief U.S. equity strategist at Citigroup Inc., talk about the Federal Reserve's decision to undertake a third round of quantitative easing today, the outlook for financial markets and investment strategy. Bloomberg’s Dominic Chu moderates the panel at the Bloomberg Markets 50 Summit in New York. (Source: Bloomberg)
Stocks climbed, rebounding from the worst weekly drop in four months, as U.S. manufacturing unexpectedly expanded. Spanish bonds gained with the euro as stress-test results bolstered confidence in Spain’s banking system. Gold touched the highest price since November.
U.S. stocks advanced for a second straight week, sending the Standard & Poor’s 500 Index to the highest level since 2007, as the Federal Reserve’s plan to buy mortgage securities fueled demand for riskier assets.