"Morgan Stanley strategist Michael Wilson stated that the market's recovery from its recent lows, approximately 7% off the trough, is holding at critical technical support levels, indicating that downside momentum may have run its course. He emphasized that stronger-than-expected earnings growth, currently tracking at roughly 15%, is projected to climb over 20% on a forward basis, suggesting that equities are supported by a solid fundamental base."
"JPMorgan strategist Mislav Matejka urged investors to view pullbacks as buying opportunities, predicting that conditions favor another V-shaped recovery within the next three to twelve months. He noted that despite potential volatility due to geopolitical uncertainty, investor sentiment appears overly bearish, and he anticipates fresh inflows that will stabilize risk assets, particularly in international markets and emerging economies."
Major Wall Street firms, including Morgan Stanley and JPMorgan Chase, are cautiously optimistic about the S&P 500's recovery, indicating that the recent market correction may be nearing its end. Morgan Stanley's Michael Wilson noted that the market's recovery is holding at critical support levels, with earnings growth projected to exceed 20%. JPMorgan's Mislav Matejka believes conditions favor a V-shaped recovery in the next three to twelve months, despite ongoing volatility. Bitcoin, however, is stalling near $72,000, with significant profit-taking observed as prices approach $70,000 to $80,000.
Read at Bitcoin Magazine
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