Buying This Dip Is Better Than Cash, BNY Mellon Wealth CIO Says [BNN Bloomberg (Canada)]
The Bank of New York Mellon Corporation (BK)
Last the bank of new york mellon corporation earnings: 4/16 06:30 am
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Source: BNN Bloomberg
to Sinead Colton Grant, chief investment officer of BNY Mellon's wealth management arm. The three-week slump in the S&P 500 Index is a healthy consolidation by traders after it soared 10% in the first quarter, its best start to a year since 2019, on top of a 24% gain in 2023, she said. From here, Colton Grant expects the rally to not only resume but broaden based on strong earnings growth and continuing economic momentum, potentially pushing the S&P 500 beyond the higher end of her 5,000-5,400 target range before 2024 closes out. “History has so many examples in which investors waited to find the absolute low and they missed their moment, so if you have capital to deploy, this is a good point to start adding exposure,” she said in an interview. “It's a fascinating market, and the worst thing for investors is to be completely in cash.” BNY Mellon Wealth Management is overweight US large-cap stocks, preferring them to international and emerging-market equities. While American shar
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BK
Earnings
- 4/16/24 - Beat
BK
Sec Filings
- 5/2/24 - Form 497K
- 5/2/24 - Form 497
- 5/1/24 - Form SBSE-A/A
- BK's page on the SEC website