Some of the shine from the wave of quarterly earnings was dimmed somewhat by guidance that suggested economic headwinds were on the horizon that could hurt the consumer and weigh on loan demand.
JPMorgan said a “mild recession” was its base case and warned that it was beginning to see a slowdown in its auto lending business at a time when the bank’s home lending business has also come under pressure., however, pointed to a much healthier economic outlook, hitting a 12-month high. But that was driven by a fall in energy prices, which some believe may prove temporary.
“The narrative has swung too much in the favor of lower commodity prices going forward,” Will Rhind, CEO and Founder of GraniteShares told Investing.com’s Yasin Ebrahim in an interview Thursday. “But that [energy] is still a sector of the market where they are big concerns and problems with supply.” “Don’t look for the price of energy, oil, or gas to be on a linear move down from here…I think that there’s still a lot of potential for a surprise to the upside, especially with the ongoing war in Ukraine,” Rhind added.
Nederland Laatste Nieuws, Nederland Headlines
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