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2020-04-22 • Updated
Most analysts believe S&P 500 is overbought and it will have a correction soon. What is the reason?
There is no secret that many large US companies have a tough time now amid the coronavirus pandemic. Goldman predicts a 15% EPS decline in the first quarter for S&P 500. That would be the largest drop in earnings reported by the index since 2009, when the decline was 15.7%.
Moreover, according to the Morgan Stanley, earnings will decrease by 20% this year. The guidance from corporations may show that the virus damage was devastating and it takes a long time to rebound. The business loan demand increased by 17.3% the previous week, what generally indicates the beginning of the recession. While major economies around the world take tentative steps toward reopening, it’s still to early to talk about their recovery.
Let’s have a look at the S&P 500 chart below. The price was declining from February 20 to March 23, then it reversed and went upward. Few days ago it reached the 50-day moving average and had a short correction down. So, it might continue increasing only if it breaks through the 50-day moving average. However, most analysts anticipate the upcoming falling down.
More and more analysts are sure Brent oil will surpass $100 a barrel. So how heavily will oil move the markets, and what will the direction of the movement be? Let's find out!
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Institutional investors speak about further growth in the stock market. In the exact market that has doubled since COVID-19 and doesn’t plan to stop. Is it possible?
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy
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