Many people believe that the bear market is over. They say that the market has bottomed out and that we’re starting to see a turnaround.
Despite stocks rising at the end of the second quarter, which can be seen as a precursor to a market turnaround, the bear market likely isn’t over.
Keith Lerner, Co-Chief Investment Officer at Truist, said on Yahoo Finance Live that “I don’t know that it’s over yet”.
The last five trading sessions have seen gains; the Dow Jones Industrial Average has gained 3% and the S&P 500 is up more than 3%. The Nasdaq Composite has also rallied over 3% in the past five trading days.
In a note on Monday, Morgan Stanley bearish strategist Mike Wilson opined; that he expects stocks to bounce five to seven percent in the short term.