Stock market forecast: S&P 500 to shed around 10% with no stimulus - Business Insider

could shed around another 10% and flirt with the 3,000 mark if US lawmakers fail to agree upon more fiscal stimulus, Anthony Denier, CEO of trading platform Webull said.

The S&P 500 has recovered from its first monthly drop in six months in September. It opened lower on Friday after US president Donald Trump and his wife both announced they tested positive for COVID-19, but still the index is up around 2% on a weekly basis. The vote came after a conversation on Thursday between House Speaker Nancy Pelosi and Treasury Secretary Mnuchin, in which they agreed to continue talks. Earlier this week both agreed that the next fiscal plan should include federal checks. Market watchers have largely priced in a scenario where lawmakers will only agree on a deal after the election, but Denier thinks there is still a chance of both parties clinching an agreement before Election Day.

But Edward Moya, senior market analyst at OANDA, sees "limited downside" for the S&P 500 even if stimulus talks, and thinks the index will shed a "few percentage points at most."

Gopikumarponnam

WeekendInvestng Don’t worry. Market will climb the wall of worry.

Nice

Same thing has been repeated over the L4 months it's all talk until there's action

Put up pro-people legislation. Extend a lifeline to citizens. They, in turn, will sustain the economy.

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