Market’s historic rebound may soon hit a breaking point, PNC’s Amanda Agati warns
PNC Financial’s Amanda Agati is on alert.
With the major indexes on the cusp of their second positive month in a row, the firm’s chief investment strategist believes stocks are getting too expensive, and the historic rebound may soon hit a breaking point.
“The market is getting pretty far ahead of itself,” she told CNBC’s “Trading Nation” on Thursday. “The market is really pricing for perfection here.”
“It’s not the good kind of multiple expansion that we’re seeing here with the bottom dropping out of earnings especially for smaller cap names where leverage is basically sitting at all-time highs,” said Agati.
According to Agati, it’s premature to assume the coronavirus threat is moving …continued .
[Source: CNBC News]