U.S. stocks are signaling that the economy’s coronavirus-driven decline may reach a low point sooner rather than later, according to Jim Paulsen, Leuthold Group Inc.’s chief investment strategist.
The performance of restaurant, auto and homebuilding shares in the S&P 500 Index was among the indicators he cited in a report Friday. All three groups rose more than 19% in the past three weeks and surpassed the S&P 500’s gain of 14%, according to data compiled by Bloomberg. “Markets may be giving the best information available regarding the timing of a potential bottom in the economy,” Paulsen wrote.
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