Why the market’s relief rally looks like it’s over

Strategists have cautioned that the recent recovery across equity markets was temporary and shares will likely continue to pull back as the global economy deteriorates in the face of rising rates and elevated inflation.P 500 index has surged an even more impressive 12.9 per cent. However, both benchmarks’ retreat this week illustrates that a reversal could already be underway.

While acknowledging that the Australian sharemarket’s recovery has been impressive, UBS analyst Richard Schellbach has beenHe notes that analysts have continued to reduce their estimates on corporate earnings growth. Meanwhile, economists have been further downgrading their economic growth projections for 2023.

Schellbach says that highly valued growth stocks, which had rebounded strongly, would be hit particularly hard, as would companies exposed to domestic retail and property. While acknowledging that short-term uncertainty remains elevated, Oliver highlights that shares are likely to be stronger on a 12-month view as central banks stop hiking and move to cutting rates, and a recession is likely avoided.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Why the market’s relief rally looks like it’s overStrategists have warned that the bounceback in shares over recent weeks was a bear market rally and a more sustained downtrend may have resumed.
Source: FinancialReview - 🏆 2. / 90 Read more »

Skills investment a ‘priority’ for Albanese governmentEmployment Minister Brendan O’Connor says it’s a “priority” of the Albanese government to invest in skills and Australia’s workforce. “It’s really important for employers to get the skills they’re crying out for, it’s very important that working people have the skills in demand so they have secure jobs and career progression,” he said. “And it’s also important for consumers because a skilled labour market is a productive labour market, and a productive labour market means downward pressure on prices.” AlboMP only priority at the moment is finding dirt on ScoMo & his ministerial appointments. Its history & news flash Albo you won the election. Get on with dealing with cost of living, ICAC, Cancel high income tax cuts, fund Medicare, NDIS, Hospitals, Aged. smh abcnews auspol More TALK no ACTION classic Labor 😠 Great, how much have you invested so far?
Source: SkyNewsAust - 🏆 7. / 78 Read more »