Wall Street Optimism Returns, As Correction Seems Like Blip

Investing.com - Just weeks after the stock market correction, Wall Street firms are sounding bullish about stocks again. JPMorgan Chase (NYSE:JPM) reiterated its 3,000 price target for the S&P 500, saying its not the time to sell stocks.The firm also said that rising interest rates do not pose a risk to stocks at this point, adding that there had been some over-reaction to inflation headlines. BlackRock recently said it was bullish on stocks because the Trump administration's tax cuts were "supercharging" corporate earnings growth expectations. JPMorgan Chase also said the correction was driven by technical factors, not by rising interest rates resulting from an uptick in inflation.Wall Street was equally bullish before the correction.Bank of America/Merrill Lynch's monthly fund mangers survey showed 30% thought the bull market would peak sometime in 2019 not in the second quarter of 2018 as previously thought