Financial markets should be able to recover from the recent sell-off with the help of the Federal Reserve and the U.S. government, according to JPMorgan Chase.
Apple CEO Tim Cook said on Thursday that he believes that China is getting the situation related to the COVID-19 coronavirus under control.
Advisers to the world’s wealthiest people are urging clients to pounce on potential bargains after U.S. stock markets registered their worst four-day performance since the depths of the 2008 financial crisis.
For investors struggling to see an end to this market mayhem, JPMorgan said it’s time to buy the dip as the bank believes the coronavirus impact is “likely temporary” and the Federal Reserve will come to the rescue.
Federal Reserve Chairman Jerome Powell called the U.S. economy a “star” performer and voiced solid confidence that its record expansion will stay on track.
U.S. central bankers see a “sustained expansion” ahead for the country’s economy, with the full impact of recent interest rate cuts still to be felt and low unemployment boosting household spending, Federal Reserve Chair Jerome Powell said on Wednesday in remarks that brushed aside any worries of a looming slowdown.
It was meant to be a fleeting slowdown for Europe's economic powerhouse, followed by a rapid rebound.
The S&P 500 surged to a new all-time high on Monday, and Goldman Sachs says the bull market will keep on rolling into 2020 on the back of three big buyers: corporations, foreign investors and US households.