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BANK OF AMERICA: Corporate America is about to unleash 'dry powder' onto the market that could end the sell-off, and 2 sectors will spearhead the profits
8 monthes ago - By Business Insider
Stocks are getting slammed, which also means they're cheaper to buy.
According to Bank of America Merrill Lynch, corporate America is holding the "dry powder" that would push the S&P 500 to 3,000 by year-end, or about 4% above where it opened on Wednesday.
Two sectors will be the biggest winners, the strategists said.
The sell-off in US stocks this week may have created a good buying opportunity for a key group of investors - public companies themselves - according to Bank of America Merrill Lynch.
It's already been a record-breaking year for share buybacks. Led by the tech sector...
Read more ...
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