Even as US stocks surged this week, a group of prominent Wall Street analysts remained skeptical about the market’s recovery. Michael Mullaney, head of research at Boston Partners, was preoccupied with economic data that suggests the damage from Donald Trump’s trade war is still unfolding.
The signs are troubling: declining shipping volumes in Los Angeles, reduced tourism-related travel, and shrinking credit card receipts in key consumer sectors. These indicators point to a more nuanced reality than the market’s optimistic rebound would suggest. Mullaney’s cautious outlook highlights the ongoing risks facing Corporate America and the economy as a whole.
Source: https://www.bloomberg.com/news/articles/2025-04-25/data-crunching-wall-street-skeptics-sit-out-the-turnaround-trade