DoubleLine’s Gundlach says U.S. stocks to take out recent lows -CNBC interview

NEW YORK (Reuters) – The U.S. stock market has recovered because of the Federal Reserve’s actions but a retest of the recent lows is possible, Jeffrey Gundlach, chief executive of DoubleLine Capital said in a CNBC interview on Monday.

“I think we take out the low,” Gundlach said.

Gundlach said he has put on a bearish bet against the SP 500 at the 2,863 level. On Monday, the SP 500 .SPX was up 1.22% at 2,871.3. The index is up 31% since touching a low of 2,191.86 on March 23.

Reporting by Saqib Iqbal Ahmed; Editing by Chris Reese