The U.S Stock Market has been down over the last couple of trading days, but is it too soon to move your money?
Todd Bury with Bury Financial Group in Boardman said the biggest reason stocks are down right now is fear of a trade war between the U.S. and China. However, Bury says he doesn’t see it as a cause for concern. He said the fluctuations are normal and that there are a lot of positives such as good corporate earnings, a good economy and unemployment levels are at the lowest in nearly 50 years and advises not make any fear-based decisions.
“Everybody remembers 2008, which was the worst market since the depression and they say I don’t want that to happen to me again. We don’t think it’s anything near 2008 right now when we talk about earnings driving the market in the long run. Right now, it is best earnings year on record,” Bury said.
For those fearful of a recession, Bury doesn’t see that happening. He said 11 of the 12 economic indicators that determine whether there will be a recession are positive.
According to CNN, the DOW plummeted as much as 785 points on Thursday before the index staged a huge comeback. The Dow closed the day down just 78 points.
Bury said market pullbacks for younger people are a good thing because you get to buy more shares when it goes down.