Global stocks could soar 47% from current levels as recent sell-off rejuvenates the bull market, JPMorgan says

Thursday’s steep sell-off that sent the Dow Jones industrial average down nearly 2,000 points was most likely caused by no new policy actions announced by the Fed, JPMorgan said in a note on Friday. But the sell-off “likely removed some of the froth in the equity positioning space” and will help “rejuvenate the equity bull market,” according to the note. The bank still sees plenty of upside left for stocks in the medium to long term, and thinks global equities could rise 47% from current levels. JPMorgan highlights four key trends that are “still pointing to plenty of

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