Still, Webb expects choppy waters as stocks come close to retesting their October lows.There's no doubt that the recenthave set off alarms all over Wall Street. But while some investors are adamant that the crisis has aggravated a looming economic recession, others believe that its ramifications will be rather muted.
"Our base case is that it'd be very hard with this much enthusiasm, this much resilience in the consumer, this strength in the labor market to retest the October lows without stocks getting bought back up again pretty quickly," Webb added.downward revisions for company profits — or those with strong balance sheets, free cash flow, momentum, profitability, and viable business models that aren't dependent on an easy money environment. But she also believes that a slowing economy means that some growth stocks have begun to look more attractive, especially the mega-tech names that were overly punished in 2023.
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Source: Reuters - 🏆 2. / 97 Read more »