JPMORGAN ON SP500: 'REITERATING THE TACTICAL BULLISH VIEW', 'WE THINK HIGHER'
JPMorgan remains tactically bullish despite last week’s 2.6% SPX drop, which cut the month-to-date gain to 4.2% and pushed year-to-date returns to -1.3%. SPX outperformed small caps but lagged the Nasdaq, while the U.S. trailed global markets as the dollar fell 2%. Bond volatility tied to U.S. fiscal concerns added pressure, with the 10Y yield moving within a 20bp range. JPMorgan sees last week’s pullback as healthy and expects markets to move higher, supported by stable macro data, strong earnings, and easing trade tensions. Nvidia’s upcoming earnings could be a key market driver.The copyright of this article belongs to the original author/organization.
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