Good news for BofA stocks
There’s good news for stocks next week, according to Bank of America
Bank of America (BofA) sees good news with risks positive for stocks next week.
“Our economists see no signs of stagflation and expect continued manufacturing recovery and strong employment growth, which should be positive for stocks,” strategist Ohsung Kwon said in a note on Monday.
This week’s manufacturing report should show that the manufacturing recession is over, Kwon said. Additionally, Friday’s April jobs report was also likely strong and showed “little signs of labor market momentum slowing,” the strategist said.