Is 1,800 Next for S&P 500 After Record Close?

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Oct. 18 (Bloomberg) -- Bloomberg's Julie Hyman and Gareth Ryan, managing director at IUR Capital, put futures in focus with a look at the rally in the S&P 500 after it closed at a record high on Thursday in "On The Markets." They speak on Bloomberg Television's "In The Loop."

Giving stock futures a boost this morning after the s&p closed at a record high and now rising to a never -- new record today.

I want to bring in the managing director of iur capital on how long this rally could last.

What do you make of earnings season so far, and do you think the balance of it, now that people are finally able to focus on it, is going to continue to fuel the rally we are seeing?

Obviously the deal in washington is really a stopgap until january/february next year.

Yes, we have had the relief rally in equities over the last few days.

White a significant move higher.

-- quite a significant move higher.

Now we can focus on what they should be focusing on, earnings.

It has been mixed over their earnings season the last couple of days.

A lot of big names coming up next week.

Banks have done pretty well.

We are bullish going into the earnings season.

It sounds like you do think we will continue to see the rally.

Do you think it lasts until year and until we start to ramp up discussions in washington again?

Really, what else is there apart from the next fomc meeting coming up at the end of the month?

We are not expecting anything special out of that.

Tapering is off the table, we believe, until january.

Lack of economic data throughout the entire first half of october really justifies that.

What do you do, garrett?

Do you buy here or employ a strategy where you lock in the gains here but then start getting out toward the end of the year?

Taking will be one thing to look at in the next few weeks.

-- profit taking will be wanting to look at.

I believe another three percent to four percent in the s&p before we reach a high for the year.

Expect a year-end rally, yes, but lot -- but a lot of selling into the rally.

When the profit-taking happened, will you step in and buy on the dips?

The president throughout 2013 is to buy dips and we saw it yet again before the nervousness last week before we got a deal.

With equities overall, it has been a great year, the s&p up 20%. despite hedge fund managers not doing so well.

I suspect we will hold on to most of these gains throughout the remainder of this year.

Beginning of next year looks a little more uncertain.

You have fed tapering back on the horizon and yet another visit to washington.

Any particular levels in the s&p futures you're watching?

Here we are all time highs.

It is hard in the technical side.

We have been focusing on the market situation, what we prefer.

I think 1500 is a big level for the s&p, for the market overall.

Buy on the dips, he said,

This text has been automatically generated. It may not be 100% accurate.


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