BofA ML to focus on capital protection in near-term

Here are expert equity calls for the day on how the markets are expected to trade:

Ethan S Harris, BofA ML: Looking ahead, we think the Fed will have to lower its growth forecast further. As such, we continue to expect another small easing step within the next few months. At this stage, the Fed's action is more a symbolic show of support to the economy than an attempt to drive financial flows. Manishi Raychaudhuri, BNP Paribas Securities: Macro-economic headwinds, downside risks to earnings estimates, continued political uncertainty and India's valuation premium relative to Asia ex-Japan appear to indicate further underperformance by India. We continue to focus on capital protection in the near-term.