ESMA warns of market correction
With almost all indices worldwide at record highs and US stock markets doubling in value after the March 2020 low following the Covid-19 crisis, the risk of a correction is increasing, according to European Securities and Markets Authority (ESMA), the European stock market watchdog, in a statement released yesterday.
Fund managers expect new market correction
Two in three fund managers think we are still in a bear market, the latest Bank of America Fud Manager Survey shows. They expect another market correction later this year, most likely caused by a second wave of Covid-19 infections.
Investors kept in the dark as earnings season starts
The first US earnings results came in published last week. As always, the major banks were first, showing disappointing results and withdrawing guidance for the second quarter. The consequence: analysts look into a black hole of uncertainty.