The bank’s chief markets strategist cautioned Monday in a note to clients that retailers, automakers and airlines are among industries that will take the biggest hit from cooling inflation after they were able charge higher prices over the past two years.
US equities snapped a four-day slide on Monday, with the S&P 500 Index rising 0.4% as Wall Street shook off its worst weekly selloff since March. The US stock market has been on shaky ground since August as investors consider the impact of sustained higher interest rates on the economy. Last week, the bank said oil could climb to as high as $150 a barrel and urged investors to buy into the space, with an energy supercycle roaring back after a pause.
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