Stocks rally like it’s ‘mission accomplished’ --- but some investors are urging caution as Nasdaq enters bull market

“The market has kind of gone back to sleep” in appearing to think, “all right, mission accomplished, inflation’s in the bag, the Fed can back off,” said Sameer Samana, a senior global market strategist at Wells Fargo Investment Institute, in a phone interview Wednesday. “We think it’s much too premature.

Investors should remain defensive, according to Samana, who said that Wells Fargo likes healthcare and is overweight the sector while recently upgrading consumer staples and utilities to neutral. He expects a recession to start in the second half of this year, although “we don’t think equity markets are reflecting that.”Wells Fargo Investment Institute also likes energy and technology, said Samana.

Core CPI, which excludes food and energy, rose 0.3% in July, slowing from a 0.7% increase in inflation in June. Economists polled by The Wall Street Journal had forecast that the consumer-price index increased 0.2% in July and that core inflation rose 0.5%. Catrambone said he worries that “the market is ignoring” how much work the Fed says it has yet to do in bringing down inflation by raising its benchmark interest rate.

Investors “should be focusing on profitable tech, quality within the tech sector,” suggested Catrambone. “I think that’s too cute by half,” Chiavarone said. “I think all of this is going to take longer” to play out.

2000 and 2008 both had rallies of 23%. It takes strong rallies to trap the bulls during bear markets.

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

Will July inflation data sustain or kill the recent rally for stocks and crypto?What will happen to stocks and cryptos if July’s consumer price index (to be released on Wednesday) matches, falls below or exceeds expectations? Investment researchers weigh in. Overall prices will be down from June 2022 but of course y'all be higher yoy by 8+ pct.
ソース: MarketWatch - 🏆 3. / 97 続きを読む »

Strategy Webinar: US Dollar Majors, Stocks, Gold, Oil Weekly OutlookIn last week’s Webinar we discussed the threat for some back-and-fill on the USD. Technicals continue to playout with precision and heading into the start of the week the focus is on possible near-term exhaustion on this stretch.
ソース: DailyFX - 🏆 305. / 63 続きを読む »

Stocks Making the Biggest Moves After Hours: Disney, Bumble, Sonos & MoreSee which stocks are posting big moves after the bell.
ソース: NBCDFW - 🏆 288. / 63 続きを読む »

European Stocks Set for Cautious Open Ahead of Key U.S. Inflation PrintEuropean markets are set for a fractionally lower open on Wednesday as global investors await a key U.S. inflation print.
ソース: nbcchicago - 🏆 545. / 51 続きを読む »

Stocks Making the Biggest Moves Midday: Norwegian Cruise Line, Micron Technology, Signet Jewelers, Novavax and MoreThese are the stocks posting the largest moves in midday trading.
ソース: nbcsandiego - 🏆 524. / 51 続きを読む »

Stocks Making the Biggest Moves After Hours: Novavax, Upstart, Allbirds and MoreThese are the stocks posting the largest moves in extended trading.
ソース: NBCDFW - 🏆 288. / 63 続きを読む »