Stocks rebound after S&P 500 correction, safe-haven gold touches record

Ravi Shankarmorgan Stanley analyst

We would be buyers of weakness in DAL (and other airline stocks) albeit with some caution around macro/geopolitical developments and overall market sentiment,

Morgan Stanley analyst Ravi Shanker wrote in a report

It's been a sharp decline from the highs in mid-February,

said Melson

What you've had over the past week or two is a repricing of what's called the Trump put lower for equities, while at the same time, understanding that tariffs are probably here to stay in some form and aren't just a negotiating tactic,

said Zachary Griffiths, senior strategist at CreditSights

You're seeing some signs of it at least getting an intermediate low and a little bit of a relief rally,

he said

Many consumers cited the high level of uncertainty around policy and other economic factors; frequent gyrations in economic policies make it very difficult for consumers to plan for the future, regardless of one’s policy preferences,

Joanne Hsu, director of the University of Michigan survey, said in a statement

Uncertainty is high and rising on Main Street, and for many reasons,

said NFIB chief economist Bill Dunkelberg in a statement

Last week we held off on revising our economic forecast as we awaited greater clarity on trade policy,

Feroli wrote

I do think it’s just a bit of an uncertain world out there right now,

Ed Stack, the chairman of Dick’s Sporting Goods, told CNBC this week when asked about the company’s expectation that its profits will be lower this year

Heightened trade policy uncertainty should weigh on activity growth, particularly for capital spending,

he said

Until the haphazard tit-for-tat tariff threats are behind us, the uncertainty means markets will remain on edge,

John Canavan, the lead U.S. analyst at Oxford Economics, said in a note on Friday

Our interactions with clients indicate that the mood music is changing. While many see recession talk as premature, concerns about erratic policy from the new administration abound, with the ‘uncertainty tax’ hitting growth expectations,

Barclays strategist Emmanuel Cau said in a note to clients

The data cycle here in the US is going to be very important,

Morgan Stanley Investment Management's Khanduja said

Thomas Browneenglish polymath and author (1605–1682)

The expectations of Fed rate cuts have ... declined over, say, the last six months,

said Thomas Browne, portfolio manager at Keeley Teton Advisors

We don't think that we've seen the bottom,

said Vishal Khanduja, head of broad markets fixed income at Morgan Stanley Investment Management

I guess we're kind of back in this litigation uncertainty,

said Marks

But we did get a couple of encouraging CPI and PPI prints this week. So, maybe there is a little too much fear out there,

said Jeff Marks, director of portfolio analysis for the Club

We also believe 1Q may be more de-risked here than elsewhere when it comes to academic/govt demand,

analysts wrote

Michael Hartnettstrategist

We say this is a correction, not a bear market in U.S. stocks,

Hartnett wrote

The markets are grappling with the notion of where fair value rests for a stock market that faces headwinds from tariffs, fiscal spending cuts and potentially softening economic data,

said Yung-Yu Ma, chief investment officer at BMO Wealth Management, in an email

Russia’s rejection of the US-proposed 30-day ceasefire in Ukraine has reignited geopolitical instability,

said Viktoria Kuszak, a research analyst at Sucden Financial, a trading firm