There is a widespread view on Wall Street that the stock market hit its lowest level of the bear market last month, and that a combination of an ebbing of the coronavirus in late spring and unprecedented fiscal and monetary stimulus will set the stage for a sharp rebound in corporate profits later this year. On Monday, the Dow Jones Industrial Average DJIA, 5.729%, the S&P 500 index SPX, 5.693% and the Nasdaq Composite Index COMP, 5.542% were each rallying more than 4% on these hopes. However, Mislav Matejka, head of global equity strategy at J.P. Morgan warned investors in a Monday research note that there is a ... (full story)