Wall Street Says Buy the Dip as Virus Fears Won’t Halt Rally
- JPMorgan, Morgan Stanley, Goldman Sachs reassure on stocks
- Spike in cases won’t derail equity rally, bank strategists say
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Investors should look through the latest spike in Covid-19 infections and the threat of lockdowns across Europe, as the flare up won’t derail the equities rally, according to some of Wall Street’s top strategists.
“While the latest Covid-related headlines create some near-term uncertainty, they are unlikely to signal a meaningful change to the economic or earnings outlook,” Morgan Stanley’s Graham Secker wrote in a note. The fourth wave “is unlikely to be a material, or sustained, problem,” JPMorgan Chase & Co. strategists led by Mislav Matejka concurred.