NEW YORK: Wall Street analysts and investors see a risk that stocks could retest recent lows in the coming days or weeks as they worry about the ...
NEW YORK: Wall Street analysts and investors see a risk that stocks could retest recent lows in the coming days or weeks as they worry about the spread of the virus and its impact on the economy, although some spot glimmers of light at the end of the tunnel.
US Surgeon General Jerome Adams warned on Fox News Sunday that"this is going to be the hardest and the saddest week." Emanuel added that stocks often trough"when the headlines are most adverse, hope scarce, and emotions high" and said that as investors,"we want to be ready for that time, and we think it is coming in April."
- Christopher Wood at Jefferies wrote in a research note dated Friday that they are still expecting, at a minimum,"a re-test of the previous low on the S&P 500", as well as a re-test of the 10-year Treasury bond yield low, and forecasts that will coincide with a renewed rally in the US dollar. He charts three stages of bear markets - the"panic low," the"relief rally" and the"retest" and said the market is currently in the second stage. He sees financial services and consumer stocks as areas that are particularly attractive.
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