The S&P 500 (^GSPC) continues to further its 52-week low point as inflation came in hotter than expected for April. CPI rose by 8.3%, down slightly from March’s 8.5% but still above consensus forecasts.
In light of the market trough, however, a recent Bank of America (BAC) Global Research report notes that retail and institutional investors continue to “buy the dip.”
“More dip-buying: last week, during which the S&P 500 was -0.2%, [private] clients were net buyers of U.S. equities…
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