The chief market strategist at a $900 billion firm says the bull market still has legs
Business Insider executive editor Sara Silverstein speaks to Kristina Hooper, the global market strategist at Invesco, about whether the 8 1/2-year equity bull market still has legs. She says that it can continue for a while, but that every day it stretches on, it gets more vulnerable. She notes lofty valuations, which are high relative to the 10-year average, and says that much of the run-up has been due to investor expectations. Hooper says that the market is currently priced for legislative perfection, and that we might not get close to that.
In terms of key legislation, Hooper says the most is at stake with regard to the corporate tax plan. She thinks we're likely to see a lot of negotiation, but ultimately thinks that a 20% tax rate needs to be preserved, and that we need the immediate expensive of capital investment.