BofA’s Hartnett Expects Stock Rally to Fade Amid US Trade Deals

The stunning US stock rebound is likely over, even as the US takes steps toward trade negotiations, according to Bank of America Corp.’s Michael Hartnett.

The strategist said stocks had “correctly” rallied on optimism around lower tariffs in the second quarter. However, he doesn’t see further gains as investors “buy the expectation, sell the fact,” Hartnett wrote in a note.