Wall Street analysts could not have predicted that a new strain of the coronavirus detected in the U.K. and South Africa would lead to the S&P 500 taking a dive in market trading on Monday, even as the U.S. government reached a long-awaited second Covid-19 stimulus deal.
It’s tough to see the future, whether a day out or longer.
That’s important for investors to remember as Wall Street issues predictions for the stock market in 2021. Wall Street bets that a stimulus deal would keep stocks moving up looks more shaky on Monday, and the history of longer-term stock forecasts should not inspire investing confidence.
