Stocks also managed to gain despite facing market turmoil at Credit Suisse and disappointing deliveries from “Tesla”.
“The market is oversold and sentiment is very negative, so a rebound, even if sharp, can happen at any time,” wrote Matt Malley, chief market strategist at Miller Tabak + Co. . He added, “The final bottom of this bear market has been reached, as the stock market has not been fully priced as being in the doldrums.”
Simultaneously, it rose Treasury bonds Across the curve, with the five-year bond yield down at one point, more than 30 basis points. The 10-year bond rate fell to 3.6% after recently exceeding 4% and has risen for nine consecutive weeks.
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According to Steven Soetmeyer of Bank of America, although the US stock market typically turns bullish in the fourth quarter of the midterm elections, capitulation remains elusive in stock call ratios and sales volume on the S&P Index. Poor’s”.
Marko Kolanovic of JPMorgan stressed that increasingly hawkish central banks and the destruction of Nord Stream pipelines are likely to delay the recovery of the US stock market, setting the bank’s year-end target for the S&P 500 Index. Which assumes a potential rise of around 30% from Monday’s close, is at risk.