Buy the dip anyway
Nearly two-thirds of survey respondents believe buying the dip will prove profitable beyond the July 9 deadline for higher tariffs to resume.
73% of respondents said the resumption of tariffs at the levels laid out in early April would drive the US economy into recession.
More than half of survey respondents say the upcoming earnings season will push stocks lower, underscoring the potential risk to stocks if corporate reports disappoint.
“The S&P 500 is essentially at record highs and trading at an expensive valuation while the economy appears to be softening. That backdrop leaves the index vulnerable to a larger correction.”
The S&P 500 is trading at 22 times expected profits in the next 12 months, 36% above its 10-year average
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