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UBS Downbeat About US Stocks in Next 2 Mths, Predicts at Least 10% Pullback
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Rebecca Cheong, Head of Americas Equity Derivatives Strategy at UBS, believes that the rebound in US stocks has been weakened since the sharp drop in early August, leaving the market in a vulnerable state. She holds a pessimistic view on US stocks for the next two months, predicting a potential pullback of 10-15% in the coming months. Any slight disappointment in upcoming US economic data could trigger a hefty sell-off, Cheong added. The recent rebound in US stocks, coupled with persistent selling on rallies, profit-taking, and a lack of buying on dips, indicates that investors are losing confidence in the market. AAStocks Financial News |
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