Analysts believe current selloff in bull market is a buyable correction, positive.

From Investing.com: 2024-08-08 10:14:27

Evercore ISI analysts believe that despite recent market volatility, we are still in a bull market, and they see the current selloff as a “buyable correction.” They compare today’s challenges to past crises, such as the brutal bear market surrounding Richard Nixon’s resignation in 1974. The firm emphasizes that current issues, like the Bank of Japan’s rate hike, are manageable in comparison. The CBOE Volatility Index peaked at 65 on Monday, reinforcing the idea that this selloff is part of a broader bull market correction. Earnings growth of over 11% and stable estimates for 2024 and 2025 are positive signs as Q2 earnings season wraps up, suggesting a continued upward trajectory despite potential bumps ahead, including the upcoming U.S. election.



Read more at Investing.com: We remain in a bull market, selloff is a buyable correction: Evercore ISI By Investing.com