The stock market has had their best month in 33 years, but here’s why experts are skeptical: by skleb1234
Of the 275 companies in the S&P 500 that have reported earnings so far, only 67% have beat expectations while almost 29% have missed , according to Refinitiv.
But some experts are still hopeful: “The market is clearly looking beyond the current quarter,” and while a lot of bad news has come out, “none of this was a surprise,” says Chris Marangi, co-chief investment officer at Gamco. “I have more confidence in the rally today than I would have before we got incremental data from a lot of companies during earnings season,” he says.The coronavirus market sell-off, which began February 19th through to the low on March 23, was the fastest drop of more than 30% on record for the S&P 500. Then, markets rallied through April, making it the shortest bear market on record at just 33 days.
in a recent note. With the “dual benefits of record monetary and fiscal stimulus helping to bridge those most impacted by COVID-19,” the firm expects “a much stronger economy later in 2020.”
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