Once one of Wall Street’s most vocal bulls, JP Morgan Chase & Co. equity analyst Marko Kolanovic, released a much more downbeat outlook for stocks on Wednesday, calling for equity prices to stumble early next year as the Federal Reserve’s interest-rate rises batter the U.S. economy.
While the Fed’s rate hikes might crush stocks during the first half of next year, Kolanovic takes a more optimistic view for the second half of the year. As the Fed’s rate hikes and balance sheet runoff batter markets and the economy, Kolanovic believes stocks will revisit their recent lows “some time between now and the end of the first quarter of 2023.”
The S&P 500 SPX traded at its lowest intraday level in nearly two years on Oct. 13, as did the Dow Jones Industrial Average DJIA and Nasdaq Composite COMP . The Dow has risen more than 5,000 points off of that day’s lows. Although the Fed’s decision to start shrinking its balance sheet could also play a role in any market turmoil that might emerge before year’s end.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Sumber: WSJ - 🏆 98. / 63 Baca lebih lajut »