Reuters Poll: Global stocks set for a correction as rally fizzles
Reuters came out with the poll results of around 110 economists during early Thursday. The survey results said, “The blistering rally in global stocks is nearly over, any further gains will be limited and a correction is likely by the end of the year.”
Barclays’ Emmanuel Cau said, “The positive earnings season catalyst now behind us means some of the macro negativity is spilling over into equities."
Around 66 respondents to the additional question replied, “A correction is likely in global stocks in the next three months.” On the other hand, “Corporate earnings will rise over the next 12-months,” said 97 of 110 analysts per Reuters.
The survey piece also mentions that the spread of the Delta variant of the coronavirus and the U.S. Federal Reserve's pending plans to taper its asset purchases are likely to leave equity markets exposed to turbulence over the coming months.
Read: Wall Street Close: Stocks print five-day uptrend with eyes on Jackson Hole Symposium
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Anil Panchal
FXStreet
Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.
