The monetary and fiscal lifelines launched by the Federal Reserve and the US government has led analysts at JP Morgan to raise their ratings on Wall Street to “neutral” from “underweight”, according to Reuters News.
“As the virus impact and the activity/policy response are the dominant drivers now, we add back to the US weight, moving it to Neutral,” Mislav Matejka, Head of Global and European Equity Strategy at JP Morgan, said in a note on Monday.
While Matejk raised the rating on US stocks, he reduced his rating on Eurozone stocks to “neutral” from “overweight”.
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