This week’s Alpha Trader podcast features hosts Aaron Task and Stephen Alpher chatting with Ben Laidler, global market strategist for eToro.

Among the topics discussed:

Q3 earnings season has been a big reminder that growth is not dead, says Laidler. He sees upside to his 2022 year-end S&P 500 forecast of 5,050 as markets continue to dramatically underestimate earnings power, and still-low bond yields support perky equity valuations.

Markets have already priced in three Fed rate hikes next year. Laidler suspects that’s a quicker pace of tightening than what will actually happen, but he reminds that markets often stage a relief rally once the Fed actually commences with rate hikes.

Laidler is also bullish on commodities, and thinks oil could head into the triple digits. But what about inflation in that scenario? He’s not too concerned, noting how “de-commoditized” Western economies have become.

Turning to Bitcoin, Laidler is bullish there as well. The next move higher, he expects, will come from far greater institutional adoption. It’s only a trickle at this point, but wider acceptance is inevitable.

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