NewsNational

Actions

Dow soars 300 points: The bull market's not over yet

Posted: 12:39 PM, Oct 30, 2018
Updated: 2018-10-30 19:39:38Z

October's market turmoil took an off-day Tuesday.

The Dow soared 300 points, the Nasdaq was up 1% and the broader S&P 500 rose 1.1%. Investors were relieved to hear President Donald Trump comment Tuesday that he is willing to negotiate with China on a trade pact.

Markets tumbled Monday on fears that the Trump administration could impose a new round of Tariffs on China.

Some experts warn that the bull market is peaking. Big tech stocks are plunging as earnings growth has slowed, interest rates have risen and the threat of a longer China trade war has intensified. The S&P 500 fell 8% lower this month.

But Brian Belski, chief investment strategist for BMO Capital Markets, thinks there are many years left before things turn around.

 

"This has been the most doubted/hated bull market in history," Belski said.

"The business of America is business," he said. "Even after a nine-year run in the stock market," he added, "US companies are the best assets in the world."

Belski will join CNN Business editor-at-large Richard Quest to discuss the market on "Markets Now" on Wednesday.

Belski and Quest will also discuss why tech stocks are getting crushed and which sectors he likes the most.