BofA’s Hartnett Says Stock Market Ripe for Profit Taking in June

The stock market is ripe for profit-taking in early June due to investors crowding into equities and rising inflation risks, according to Bank of America Corp. strategists.

Growing price pressures are having a broad impact in the US, from energy and transportation costs to rents, the team led by Michael Hartnett wrote. That’s coming at a time the market is soaring to fresh record highs.