Ask an expert: Behind the market's recent climb
MSN Money's Anthony Mirhaydari explains the market's recent winter rally after a dreary performance this fall.
The holiday season certainly plays a part in perking up the market this time of year, says MSN Money's Anthony Mirhaydari in this video. But other factors are at play as well.
Between Sept. 15 and Nov. 15, the S&P 500 lost more than 7.5% of its value. Since mid-November it has recovered back about 4.4%. With the still looming fiscal cliff, what explains this bullish sentiment?
For one thing, Mirhaydari says, the economic data has been improving. Even the foreboding CEOs have had to contend with the fact that consumers just keep spending and adjust accordingly.
Of course, there are still risks out there, mainly the yet unresolved fiscal cliff. But Mirhaydari expects a short term deal soon.
He also recommends several avenues for investors interested in taking advantage of the current climate. Especially, Mirhaydari thinks anything that could benefit from the dollar is doing well these days.
The discussion about the fiscal cliff and its effects on the current trading environment continues over at MSN Money's Facebook community.
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