(Bloomberg) — Stocks rebounded after their worst week since April as investors looked beyond Joe Biden ending his reelection campaign to focus on the start of the tech earnings season.
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Despite the selloff that had some on Wall Street bracing for a correction, respondents to Bloomberg’s Markets Live Pulse survey expect earnings to reinvigorate the S&P 500 — which climbed 1.1% to start the week. With results from Tesla Inc. and Alphabet Inc. on deck Tuesday, nearly two-thirds of the 463 respondents expect corporate profits to boost US equities.
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Sky-high valuations and seasonal weakness have incited some stock pullback warnings, with traders also facing political uncertainties. Yet even with the many headlines that followed Biden’s decision to quit the race and endorse Kamala Harris, a sense of calm prevailed Monday. Volatility slumped as…
