Are investors driven by FOMO, or is a retest of the lows coming? Here’s what Wall Street strategists are saying about the stock-market outlook

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

merica is attempting to reopen economies that have been shuttered across the country and Wall Street investors don’t seem to be particularly concerned about how that all shakes out in the weeks, months and years to come.

Although stocks were facing a bumpy ride on Tuesday, equity gauges have been mostly on the uptrend since putting in lows on March 23.

The Dow Jones Industrial Average DJIA, 2.22% is up by about 30% since its late-March closing low at 18,591.93, when fears of the economic damage the coronavirus epidemic could do gripped the market, leaving the blue-chip index 18.3% down from its Feb. 12 record closing peak 29,551.42.

The S&P 500 SPX, 2.65% and the Nasdaq Composite COMP, 3.31% indexes are up 28% and 26%, respectively from their late-March nadir and down 15.2% and 12% from their respective record highs.

Looked at it another way, the Dow is headed for its best monthly gain, up 10%, since October of 2002; the S&P 500 is on pace for its sharpest monthly rally, up 11.2%, since December of 1991; the Nasdaq is on track for its best monthly return, a gain of 12.4%, since April 2009; and the small-capitalization Russell 2000 index RUT, 4.73% is headed for its best monthly advance since October 2011, with a rise of 15%, according to Dow Jones Market Data.

Are investors being too dismissive of the challenges of restarting economies that have been rocked by the pandemic that has infected more than 3 million people world-wide and killed 212,000, according to data compiled by Johns Hopkins University?

Is it a case of fear of missing out, or FOMO, taking shape?

The Wall Street-appointed Bond King, Jeff Gundlach, on Monday said that he thinks that a retest of the recent lows is plausible.

Originally Published on MarketWatch

Home of Science
Follow me

- Advertisement -

Discover

Sponsor

Latest

Sebastien Bellin: Brussels bomb survivor on Ironman feat and forgivenesson April 24, 2023 at 11:00 pm

Losing blood, running low on time, Sebastien Bellin knew his choices over the next hour would decide if he lived or died. Then he...

Europe and polar regions hit hardest by global warmingon January 10, 2023 at 12:07 pm

Last year was the world's fifth warmest year with Europe enduring its hottest summer on recordImage source, Getty ImagesBy Matt McGrathEnvironment correspondentThe polar regions...

Sasha Johnson: Black Lives Matter activist shot by group of menon May 25, 2021 at 7:37 am

The Met Police says there was "nothing to suggest" that Sasha Johnson had been "targeted".The Met Police says there was "nothing to suggest" that...

T20 World Cup – England v India semi-final: Jos Buttler & Alex Hales staron November 10, 2022 at 1:52 pm

A blistering partnership between openers Jos Buttler and Alex Hales secures a sensational 10-wicket demolition of India and sends England into the Men's T20...

Things You Need to Do Before Starting a Business

Things You Need to Do Before Starting a BusinessFor some people, starting a business can be intimidating. However, there are many steps you...
Home of Science
Follow me