US manufacturing contracts again in April, but pace slows
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BofA sell side indicator indicates 16% price return for S&P 500 over the next 12 months
May 1, 2023 2:00 PM EDTBofA analyst Savita Subramanian said in a note Monday that bulls are "becoming an endangered species" with sentiment still bearish, but the analyst noted that this does not necessarily mean downside is ahead.
"Bearish sentiment argues for double-digit returns," the analyst wrote. "The Sell Side Indicator (SSI), our contrarian sentiment model, tracks US sell-side... More
