US stocks had a very quiet night as they approach the end of a very tough quarter, we still believe the probability is they will bounce through July but further potholes appear likely as we head towards Christmas:
- MM is concerned over the medium term that analysts are looking for S&P500 stocks to enjoy profit growth of ~11%, it feels optimistic to MM in today’s environment i.e. reporting season could be challenging.
MM is mildly bullish US equities over the coming weeks
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