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Alphabet Stock Gaps Higher Despite Earnings Miss

Shares of the internet content giant moved higher after earnings but remained shy of key risky levels. Read More...

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MarketWatch

Buy in May? Analyst who called the March bottom says current pullback is just a bull-market pause

U.S. stocks have tumbled more 4% since their post-coronavirus highs last Wednesday, leading some to speculate that a retest of the March 23 lows is on its way, but Michael Wilson, chief U.S. equity strategist at Morgan Stanley believes markets are simply consolidating their recent gains and preparing to resume their upward march. “After a torrid 35% rally from the lows, equity markets appear to be taking their first break,” Wilson wrote in a Monday note to clients, adding that he believes the S&P 500 index (SPX) could fall as low as 2,650 before rebounding again. Wilson called for markets to bottom on March 16, just a week before the S&P 500 hit its recent low 2,237 on March 23, arguing at that time that the COVID-19 epidemic and simultaneous crash in oil prices were simply the “final blows to an already exhausted U.S. expansion.”

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