A 'much more severe' selloff looms for stocks, 1 chief investment officer warns
The coronavirus death toll continues to rise across the U.S., as do the number of job losses, with an increasing number of companies reporting on the deep damage the pandemic has already inflicted. Yet the stock market, despite its volatile stretches, continues to hold up relatively well. iframe.
“The depth and duration of this economic calamity are unknowable, but values don’t yet reflect it,” he told clients in a recent note. “S&P 500 valuations are 30-40% higher than seen at even the comparatively-shallow market low of 2002.” “If the median S&P 500 stock traded down to the average valuation seen at the last three bear market bottoms, it would have to decline another 46% from April 30th levels” he said. “If we play along and assume that valuations bottom at the ‘richest’ levels ever seen at a bear market low, there’s still 32% downside remaining in the median S&P 500 stock.”
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
30 Stocks to Buy if the Economy Recovers in a Scary W-ShapeRaymond James strategist Tavis McCourt examined what stocks would win out under various recovery scenarios. He says defensive stocks with less leveraged...
Lire la suite »
Why Is the Stock Market Rallying When the Economy Is So Bad?Buoyant tech stocks and fear of missing out on a quicker-than-expected recovery are reasons for the disconnect between the economy and stock market
Lire la suite »
Shelves Won't Be Fully Stocked with Clorox Wipes Until Summer, CEO WarnsSanitation products have been in short supply on grocery store shelves throughout the coronavirus pandemic
Lire la suite »
‘We’ve seen the lows in March’ for the stock market, says man who called Dow 20,000 in 2015, ‘and we will never see those lows againJeremy Siegel, says unprecedented support by the Federal Reserve and the U.S. government make it nearly impossible for the U.S. stock market to revert to its...
Lire la suite »
America’s Smallest Stocks Are Staging a ComebackInvestors have been putting money back into small-capitalization companies, a phenomenon that has stood in contrast to the grim economic data released since the coronavirus pandemic erupted
Lire la suite »
The Top 20 Richest American Billionaires Of 2020Despite the worst stock market crash since the 2008 financial crisis, the 20 richest Americans are worth nearly $1 trillion combined.
Lire la suite »