S&P 500 to test 4700-4800 prior to US elections: Evercore ISI
, have been range bound for three months, correcting in both time and price since Nvidia’s last earnings report in February.
On the other hand, the downside remains cushioned by a surprisingly strong earnings season, stable yields, and a resurgence of “meme-like” speculative trading, Evercore ISI strategists pointed out in a Monday note. Moreover, new payroll data, developments in the Middle East and Ukraine, and a likely verdict in the Trump NY trial could also make an impact on the markets.
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