JP Morgan (JPM) is reiterating their bullish outlook for equities despite the rally. They see the recovery broadening and further room for upside for equities:
“The important economic news of the last few weeks is the broadening of the recovery across sectors, regions, and types of spending. This increases confidence in the longevity of the recovery, but is now also making us recognise that data are running ahead of some of our forecasts.”
They believe three factors have kept investors on the sidelines in recent months and that skepticism has helped contribute to the rally in stocks:
“Three areas of uncertainty have kept investors from fully committing to risky assets –– the end of QE, Chinese tightening, and the Greek debt crisis.”
Their analysts say the end of QE is having almost no impact on markets, China’s concerns are slowly but surely being dealt with and the Greek crisis is unlikely to result in widespread economic damage.
Related ETF`s: SPDR S&P 500 ETF (Public, NYSE:SPY) and ProShares UltraShort S&P500 (ETF) (Public, NYSE:SDS)
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