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Wall Street expects earnings to reach a four-year high — too conservative, says Deutsche Bank
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Retail investors have been “skipping the dips, selling into rallies, and positioning more defensively,” according to JPMorgan.
The bank noted such activity was even seen during Wednesday’s rally, which that cohort sold into — a marked departure from their behavior last year. That’s as institutional investors have also backed away from U.S. stocks this year, against a backdrop of a volatile Middle East conflict and worries over AI disruption.