Dow rises 1,200 points on hopes of economic relief plans
Stocks are in the green across the world today. Does that mean the market has bottomed out?
“Although calling a bottom is a tricky endeavor, we believe we’ve experienced a majority of the losses for this drawdown,” said Jeff Schulze, investment strategist at ClearBridge Investments.
Schulze says he wouldn’t be surprised to see a rally over the next couple of weeks “because the market is very oversold and we expect to see some quarter-end portfolio rebalancing” that makes investors buy stocks again.
With that being said, the ultimate test for the market’s assessment of the coronavirus crisis will come when economic data paints a clearer picture of its impact.
Another important data point to call the market bottom is the peak of infections.
“The Chinese decided to employ a lockdown on day 8 of the …continued .
[Original Source: CNN]