Rallying Market Makes a Mockery of Every Effort to Forecast It
- Canaccord, BMO, Oppenheimer among those to pull projections
- Forecasts today are like ‘throwing a dart’: Baird’s Antonelli
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For any forecaster thinking of going public with a view on stocks, some advice: proceed with caution.
Dizzying swings are torching Wall Street predictions. In the latest, a two-day surge in futures is poised to send the S&P 500 up 20% from its March 23 low, pulling the gauge out of the bear market it reached March 12, at least technically. MSCI’s broadest measure of global shares may do the same.