Wall Street analysts and investors expect stocks to test the bottoms again in the coming days or weeks as they worry about the spread of the virus and its impact on the economy, although there are some flashes of light at the end of the tunnel.
Wall Street’s main indices fell more than 1.5% on Friday after the coronavirus abruptly ended a record series of job growth in the US. The S&P 500 (SPX) closed at a price of 2,488.65 after rebounding by about 13% from its end-March level, though it was still down more than 26% from its record high in mid-February.
The markets have shown some signs of stabilization as investors analyze a wide range of clues in the trajectory they can take in the coming weeks.
Investors’ attitudes, often seen as the opposite indicator, are one signal of a possible turnaround in US equities. However, markets remain turbulent and far from their peaks.
Trader Georgi Bozhidarov