Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease on the floor at the New York Stock Exchange in New York, U.S., May 26, 2020. REUTERS/Brendan McDermid
“You just don’t know what the post environment is going to look like, so that creates uncertainty and that makes you apprehensive to stick your neck out. Earnings are a huge gray area,” said Daniel Morgan, vice president and senior portfolio manager at Synovus Trust Company in Atlanta. Morgan sees the S&P 500 ending this year at 2,960.Forecasts from IBES data from Refinitiv suggest the same. After falling 12.
“If they have a vaccine and are able to produce it in sufficient quantities for mass vaccinations... That would probably be a game changer, and we’d see markets surge higher rather than grind higher,” said John Praveen, portfolio manager for QMA, the quantitative equity and global multi-asset solutions business of PGIM.
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cvaletkevitch When your first cite is an analyst saying nobody knows, it’s hard to take forecasting seriously. The article provides no reason to. The specific nature of the forecasting is part of the illusion that it could mean something.
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