While uncertainty and volatility are not declining just 15 days before the US presidential election, the US presidential election is not declining. U. S. , The stock market site correction that began in September may still be ongoing, Morgan Stanley said Monday, bringing up the recent lack of upward market momentum and short-term upticks. . who are temporarily frustrated.
The correction that began in September “probably isn’t over,” Morgan Stanley said on a note to consumers Monday, highlighting the S’s lukewarm performance
The lack of a fiscal stimulus agreement, electoral uncertainty, and an increase in coronavirus cases, which Morgan Stanley has called “the time of the virus wave,” is likely to keep volatility at the top in the short term, society said.
Once uncertainty fades, the new bull market is on track to continue next year, Morgan Stanley said, adding that it expects inventory to exceed the S
There is at least one positive one, coming from the big banks: the S
Bank of America was also cautious on Monday, saying that stocks continue in the industry at “statistically high levels” and that existing earnings forecasts for 2021, which mean expansion above pre-Covid levels, are “too optimistic, especially without further stimulus. “
Although the inventory market had a sharp pushback to the pandemic lows in March and April, it is not much higher than when the pandemic struck, and the hypothesis is possibly the cause of eye-catching technology inventory jumps like Tesla, which supports major indices, Moody’s chief analysis economist said Sunday in a note , Mark Zandi.
After a large uptick in the middle of the pandemic, September marked a dark month for stocks that resulted in the first monthly loss for the 3 primary indices since the coronavirus hit the United States in March, and the race has been difficult for movements since. In October, the market shook with news of President Trump’s Covid-19 diagnosis and a large exchange of stimulus, as experts, and economic signs, say additional fiscal relief is essential for a sustained economic recovery.
“With so much uncertainty over the next month, we think that some other correction of 10% of Monday’s highs is the maximum likely short-term final results before this bull market can resume, at least at the index level,” a Morgan Stanley team Equity strategists led by Michael Wilson said Monday: “Without a specific order, we would point to the lack of a fiscal stimulus agreement, the timing of election results/final effects, and the virus’s moment wave as the main obstacles to short-term value rise. “
Although this is the beginning of the third-quarter reporting season, most of the corporations that have reported it have surpassed Wall Street earnings and profit forecasts, Morgan Stanley notes, adding that this is typical in the profit start season. The sectors where Morgan Stanley expects to record the worst effects are energy and transport.
Stocks rise, Dow rises 100 points, despite growing cases of coronavirus, as markets expect last-minute stimulus (Forbes)
China’s economy continues to recover with a 4. 9% expansion in the third quarter (Forbes)
Pelosi doubles the stimulation time of 48 hours (Forbes)
10 states report record cases of Covid-19 while the US is in the middle of the year. But it’s not the first time Exceeds 8 million (Forbes)
I’m a reporter at Forbes, specializing in markets and finance. I graduated from the University of North Carolina at Chapel Hill, where I did a double degree in journalism.
I’m a journalist at Forbes and I specialized in markets and finance. I graduated from the University of North Carolina at Chapel Hill, where I majored in business journalism and economics while applying for UNC Kenan-Flagler Business School as a marketing and communications assistant. Forbes, I spent a summer reporting on los Angeles’ personal sector for the Los Angeles Business Journal and writing about North Carolina’s publicly traded corporations for NC Business News Wire. Contact jponciano@forbes. com.