Wall Street is bracing for a wrap-up of March, thanks to the S&P 500’s 6% decline and its biggest monthly drop since September 2022. The market’s uncertainty surrounding US trade policy, particularly with President Trump’s new levies on imported goods from Canada, Mexico, and China, is the main culprit.
However, some experts believe April could be a turning point for the market. Ari Wald, a technical strategist at Oppenheimer, points to the S&P 500’s history of performing well in April when it starts below its 200-day moving average. Historically, this has led to a 2.5% advance and a positive trend 73% of the time since 1950.
Despite this optimism, Wald remains cautious in the long term, citing concerns about emerging damage in the third year of a bull cycle. He advises investors who are buying during the current selloff to focus on relative strength and long-term accumulation.
On the other side of the market, Norwegian Cruise Line was initiated with a buy rating by Jefferies, predicting a 30% upside for the stock. The analyst praised NCLH as one of the world’s largest cruise lines, citing its strong prospects for growth.
Source: https://www.cnbc.com/2025/03/31/april-could-provide-a-reprieve-from-the-market-sell-off.html