See sideways equity consolidation for few weeks: Nomura

Here are experts’ equity calls for the day on how the market is expected to trade:

Michael Kurtz, Nomura: Most major equity markets/regions are now back within a percent or two of their January starting points, Japan being the key exception, still down nearly 5 percent in US dollar terms. US recovery stands on solid enough foundations to emerge healthy from its winter retreat. But that assumption is substantially 'in the price' now, suggesting the possibility of a sideways equity consolidation for a few weeks.

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Michael Hartnett, Bank of America Merrill Lynch: Weekly flows show investors piling into European and US equities, high yielding bonds and commodities, mainly gold and silver ETFs. But exodus from emerging markets (EM) assets continue as emerging market debt and equity funds see 22 and 18 straight weeks of redemptions respectively.