"The biggest risk is the number of cases of the Covid virus spiking once again, because of the cascading effect that it would have on corporate profits and the uncertainty that it would present toward the election in November," Stovall said.
Despite 2020's unprecedented downturn, Stovall says he believes the weaker historical trend will apply this year, too. He contends the market pullback that began on June 8 hasn't ended yet. "We've been stumbling along the way. We had a 7% pullback," he said. "Sometime in the third quarter we end up concluding this correction with a little deeper sell-off."But earnings season may buy investors some time.
According to Stovall, second-quarter earnings estimates are so low, they should beat the Street and serve as a short-term bullish driver. So, July may emerge as a stronger month for the market with August and September seeing the most trouble.successfully recover from the virus fallout and seasonal woes"Twelve months from now I think we're going to be in new high territory," Stovall said.
In a year, Stovall predicts, the S&P 500 will be at 3,435 — a 1% gain from the all-time high hit in February.
TradingNation Not going to happen. In the biggest melt up ever. If you’re not long stocks now, then I feel bad for you. Trump and Powell are the best thing that ever happened. Get long quick and make some money. Up $50 million since March.
TradingNation It won’t happen because of Powell who denied the independence of central bank and becomes the puppet of the rich.
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:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. sanctions, coronavirus make for Iran's toughest year, Rouhani saysIranian President Hassan Rouhani said on Sunday that his country is experiencing its toughest year because of U.S. sanctions coupled with the COVID-19 pandemic. RT NVnotpayingPUA please help us. Over +60k people have gone 15 weeks without a paycheck. People are starving and going homeless here on GovSisolak watch All pity the tyrannical religious fanatic. how about mismanagement? Rouhani better to get back to the mosque. although I am not sure they can even manage a mosque as well.
Source: Reuters - 🏆 2. / 97 Read more »
Exclusive: Obscure Indian cyber firm spied on politicians, investors worldwidePHOTO CORRECTION: A little-known Indian IT firm offered its hacking services to help clients spy on more than 10,000 email accounts over a period of seven years We are deleting previous tweets that contained an incorrect photo. Not surprised Wow, are you sure they are not the outsourced IT contractors? oh India, they are now claiming China is spying on them by apps.
Source: Reuters - 🏆 2. / 97 Read more »
Rob Kardashian Makes Surprise Appearance at Khloe's Birthday PartyRob Kardashian FINALLY resurfaces on social media for his sister’s b-day – see all the photos of him now! (via toofab) TooFab And who gives a shit why? TooFab man se esse é o rob quem é aquele outro cara q parece o jared leto q vive c elas? TooFab That's some relevant shit right there!
Source: TMZ - 🏆 379. / 59 Read more »
'I want to sleep with men who aren't my husband, should I leave him?'Red's agony aunt Philippa Perry warns a reader not to throw away her marriage after a one-night stand
Source: RedMagDaily - 🏆 312. / 61 Read more »
Jim Cramer: We saw a lot of 'encouraging signs' in Monday's session'We had a lot of encouraging signs today, but keep in mind that this market loves veering from one extreme to the other,' the 'Mad Money' host said. Places that reopened has to close back down again? That is some great news🙄
Source: CNBC - 🏆 12. / 72 Read more »
Loading Up On Potassium-Rich Foods Before Your Period Can Help Nix Painful BloatingThese are all the *best* remedies for period bloat, according to ob-gyns.
Source: Women's Health - 🏆 475. / 51 Read more »