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Dow rises 1,200 points on hopes of economic relief plans

Editor CNN March 24, 2020

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]

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