‘Bond king’ Bill Gross says stock market’s record-setting run will slow

Dow Jones / Market Watch with the comments from ex-PIMCO Bill Gross, known as the "bond king."

• suggests that the biggest gains from the U.S. stock market's historic bull run are likely behind us
• anticipates that the S&P 500 will produce modest, low-single-digit returns for the fourth quarter of 2024 and beyond

Advises investors to favour more defensively oriented stocks (those offering high dividend yields)

• a relatively low allocation to bonds (Gross has warned in the past that Treasury yields could move higher as large budget deficits force the U.S. Treasury to continue increasing issuance)