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RXI - S&P 500 could rebound to 3500 by year end - SocGen
iShares Global Consumer Discretionary
"The market is in our view currently pricing a deep recession for the entire year, with no anticipation of light at the end of the tunnel. Reconciling consensus expectations from a bottom-up perspective and the recent price action, which has a more top-down perspective, we believe that the wave of downgrades for consensus numbers should keep the S&P 500 under pressure in the near-term, until the end of 2Q20," SocGen analysts write in a note this morning.
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