JP MORGAN CHASE(US:JPM) Hua Er Jie Jian Wen·2025-05-16 03:42Group 1 - The core elements of the current bull market remain intact, including resilient macro data, improving earnings, and easing trade tensions, despite the rebound being characterized as the "least popular" one [1] - The S&P 500 index is expected to reach historical highs of 6144 points this quarter, although the risk of a pullback is increasing [1] - The rise in yields is expected to drive investors towards high-quality stocks, particularly large tech stocks, while putting pressure on consumer staples and utilities [4] Group 2 - The market sentiment is optimistic, with active long investors appearing under-allocated compared to the S&P 500 index's rise, yet there has not been a significant "chase" for tech stocks [6] - The industrial sector showed resilience in the recent market rebound, indicating active buying rather than passive short covering [6] - Consumer spending data as of May 6 shows positive trends, contributing to the overall optimistic market sentiment [6] Group 3 - Funds are flowing back into U.S. risk assets, reversing the trend of outflows that primarily affected the Magnificent 7 stocks earlier in the year [7]