Analysts still bearish about S&P despite rallies

US STOCK prices have rebounded from their October lows despite analysts’ broadly bearish sentiments and a shaky global macroeconomic environment.

But analysts remain cautious about the sustainability of the rally amid the threat of additional rate hikes and an earnings slowdown. In the face of those headwinds, investors might consider staying defensive and finding quality counters until greater certainty emerges.

The benchmark S&P 500 Index as at mid-June had risen more than 22 per cent from a 3,577.03 closing low last October, crossing the widely cited 20 per cent threshold for a new bull market.