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Wall Street analysts think any stock market rally will be short-lived

An analyst thinks earnings estimates remain too high and sees the S&P 500 trading close to 3,400 by the end of the second-quarter earnings season in mid-August

Wall Street

(Photo: AP/PTI)

A growing number of Wall Street strategists see last week’s stock market rebound as a head fake before more selling, as risks to the US economy and corporate earnings growth remain with stubbornly high inflation.
The S&P 500 Index is drifting lower Tuesday after snapping its longest streak of weekly drops in two decades. And analysts from banks and investment firms including Morgan Stanley, Bank of America Corp. and Oppenheimer & Co. expect more losses ahead.
The recent bounce was driven by oversold conditions tied to hopes that that the Federal Reserve may be debating a pause in September, Morgan

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First Published: May 31 2022 | 11:24 PM IST

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