Goldman Sachs abandons its bearish near-term view on stocks, says the bottom is in

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Goldman Sachs believes the stock market bottom is behind us -- as long as we don't experience a second wave of coronavirus infections.

With the long Easter weekend behind us, stocks are pointing to a lower start for Monday as coronavirus fallout swings into focus and a production cutting deal by oil majors appears to have fallen flat.

Why? “The combination of unprecedented policy support and a flattening viral curve have dramatically reduced downside risk for the U.S. economy and financial markets and lifted the S&P 500 out of bear market territory,” said Kostin, whose gloomy stock prediction from last month came the day before a complete market meltdown.

“Although the pandemic progress of the past week and the Fed programs are not exactly one-off events, they won’t be repeating on a daily basis as disappointing earnings and economic data will be for the next couple of months. No matter how active the Federal Reserve is, this is not a tape to chase higher.”

Banks are kicking off first-quarter earnings this week, but it will take months to see who will survive a depression-level drought.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Companies producing no goods or services will increasing in value. Lolz

How many times do you need to retweet?

Rhett800cc 👀

I also believe in Santa Claus

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Goldman says beware stocks getting government assistance even though they may pop on the newsNew for subscribers: Goldman says beware stocks getting government assistance even though they may pop on the news Check out CNBCPro and get your first 7 days free. Pro The truth is : Goldman wants you to buy only THEIR vodoo startup stocks or to pump up further their flag ship BIG TECH. Goldman is not interested in real US-economy shares to rise. So obvious. ;-( Pro Best advice I have heard, yet. You think people would wisen up after Fanniegate fiasco, shareholders STILL over barrel 12 years later. Government will screw shareholders. Who else gets to buy 4 billion warrants for .00001/share? Thieves.
Source: CNBC - 🏆 12. / 72 Read more »