Wall Street’s Fear Gauge Is Flashing Buy Sign, UBS Wealth CIO Says
- VIX surge seen as contrarian-buy signal, Solita Marcelli says
- More volatility may emerge, but Fed cuts set to support stocks
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As traders rattled by this week’s equities cascade ponder what lies ahead, UBS Group AG’s Solita Marcelli remains confident US stocks will continue their upward trajectory in the coming months.
The chief investment officer of the bank’s wealth management arm said recent market gyrations haven’t dented her fundamental view on stocks for 2024. The Federal Reserve’s first interest-rate cut lies ahead and in times of a solid growth backdrop, the S&P 500 Index has risen roughly 17% on average over the next 12 months after the US central bank starts easing, she noted.