Goldman Sachs CEO David Solomon gave his views on the US economy. He expects a V-shaped recovery and added several red flags to his projection.
Fed officials are concerned about a second wave of the coronavirus. Chinese authorities have been struggling to contain the second wave of COVID-19.
US stock markets might crash today based on the price action in futures. Fears of a second wave of COVID-19 infections spooked investors.
Today, China released its May trade data. The country’s exports fell 3.3% YoY (year-over-year). In April, China’s exports rose 3.5%.
The anti-China sentiment has the potential to shift Chinese consumers to domestic products. How will NIO and Tesla get impacted by this shift?
US stock markets have recouped most of their losses. The Nasdaq Composite Index is only 1.6% away from its all-time highs. The index looks strong in June.
JPMorgan Chase thinks that US stock markets will continue to rise. Most asset managers think that equity markets have run ahead of their fundamentals.
Citigroup joined the bearish bandwagon. Citi’s co-head of investment banking, Manolo Falco, said that stock markets are “way ahead of reality.”
In May, the S&P 500 Index (NYSEARCA:SPY) closed in the green for the second consecutive month. In March 2020, the index fell 12.5%.