'W-shaped' recovery predicted for US economy

Charles Schwab expects a W-shaped trend in the US economy, instead of a V-shaped rebound expected by most market watchers.
It says the S&P 500 Index is now at a high level, thus, there may be a 10 percent downward adjustment in the short term.
Charles Schwab said US stocks have recovered most of the decline since the end of March. In a normal situation, there should be a correction, the group said. Also, this would be more healthy for the share market.