Economics
Russell Favors Dip-Buying Strategy as U.S. Stocks Retreat Anew
- Strategists see election, sluggish economy capping equity gain
- S&P 500 valuation near all-time highs with profits weak
Friday's Jobs Report and the Fed's Dual Mandate
This article is for subscribers only.
The U.S. stock market’s stumble into the fourth quarter is something investors had better get used to, according to strategists at Russell Investments.
The S&P 500 Index fell 0.3 percent to 2,161.20 at 4 p.m. in New York, weighed down by technology and consumer-staples shares, while lackluster growth in manufacturing activity did little to boost optimism on the economy. The benchmark fell as much as 0.6 percent following a bank-led rally Friday -- and further declines would present an opportunity for investors, Seattle-based Russell said in a report to clients Monday. The firm manages $244 billion in assets.