U.S. Stock Futures Surge As JPM Chase Calls Stock Market Bottom📈

U.S. Stock Futures Surge As JPM Chase Calls Stock Market Bottom. JPMorgan Says Slowing U.S. Virus Cases to Put Floor Under Stocks
A slowdown in the growth rate of new U.S. coronavirus cases may help put a floor under stocks and dampen volatility, according to JPMorgan Chase & Co.

“Based on the recent correlation, case growth deceleration in that group can help put further downward pressure on implied equity volatility and blunt the nature of a retest of the March equity price low,” the strategists wrote. “We suspected that markets could anchor to those statistics given the enormous uncertainties associated with a pandemic. So far, that has proved to be the case.”

JPM Chase Says Stock Market Bottom Is In-Goldman Sachs Says the Stock Market Crash Isn’t Over. Strategists at JPMorgan Chase & Co. have concluded that most risk assets a universe that typically includes stocks and credit — have seen their low points for the recession that’s gripped economies around the world.
Conditions that JPMorgan had set for market stabilization and revival have largely been met, with recession-like pricing, a reversal in investor positioning and extraordinary fiscal stimulus, strategists led by John Normand wrote in a note Friday. Coronavirus infection rates remain a “wild card,” as they’re still high.
Most risk assets should trade higher in the second quarter of the year, Normand said. He recommends that investors average into oversold markets, particularly those where central banks are buying directly. (Averaging into markets entails spreading out the purchases over time rather than diving in in one go.)

New York State reported 594 new coronavirus deaths on Sunday, fewer than the 630 it reported on Saturday, Governor Andrew Cuomo said at his daily news briefing. The state has had 4,159 fatalities so far.
New Jersey, which has the second-highest number of U.S. cases, reported a slowdown in the death rate: Fatalities rose by 71 on Sunday, compared with 200 the day before. It also reported fewer new cases, 3,381, for a total of 37,505. Total deaths are 917.
As President Donald Trump and other leaders warned of rising death tolls, Cuomo said it was too early to say if the outbreak had reached a peak in New York the center of the nation’s outbreak.
The coronavirus death toll in the U.S. could be “well short” of recent estimates from top health officials if social distancing measures are done properly, billionaire philanthropist Bill Gates said Sunday.

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