BTIG has added its voice to the growing chorus of market analysts predicting brighter days for US stock investors. Joining Goldman Sachs and Citadel Securities, BTIG suggests now is the time to increase exposure to equities. “A low has been made and we should be playing offence more than defence,” said BTIG’s Jonathan Krinsky, as the S&P 500 Index recovered from recent lows. BTIG is a global financial services firm specialising in institutional trading, investment banking, research and related brokerage services. They provide expertise to help clients navigate complex market conditions.
The S&P 500 rose as much as 0.9 per cent, climbing above 6800. This puts the index above a key technical level, potentially catching out bearish investors if stocks bounce back, according to Krinsky. Traders are reportedly capitalising on stronger-than-expected labour market data and an expansion in services activity. This positive data is helping the S&P 500 recover from a 2.5 per cent intraday drop earlier in the week, offsetting concerns about the geopolitical situation in the Middle East.
Krinsky’s bullish stance aligns with similar calls from other market heavyweights. Goldman Sachs strategists, led by Peter Oppenheimer, have advised investors to view any equity market correction as a buying opportunity, rather than the start of a bear market. Similarly, Citadel Securities’ Scott Rubner has indicated that his fundamental market analysis suggests a bullish turn on equities is warranted.
According to Krinsky, several sectors appear to have found a bottom as the S&P 500 reclaims a key support level. “We see bottoms in airlines, consumer, banks, crypto, software, and China, while energy and staples look like tactical tops,” Krinsky wrote in a note to clients.
