The Wall Street closed lower on Thursday after a nearly 12-day-long run as financials lagged on the back of the talk of a potential rate hike by the US Federal Reserve. The rate hike will not have a significant impact on the US markets. The US markets aren’t at stratospheric levels and definitely not in a “bubble territory”.
The founder of the investment consulting firm said that the US market is in a substantial bull run but there is a likelihood of a pull back after the recent rally. Meanwhile, all eyes will be on the speech from Federal Reserve Chair Janet Yellen, who is expected to speak at the Executives Club of Chicago later on Friday.
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