Stifel's Barry Bannister suggests a potential economic downturn in early 2024.
Stifel’s chief equity strategist Barry Bannister may turn defensive in U.S. stocks at the end of this year to brace for a potential economic downturn in early 2024, as the Federal Reserve may need to weaken the labor market that looks “too hot” to bring down stubbornly high inflation.
In his view, “a recession signal is 4.1% unemployment,” which could arrive in December, implying an economic contraction in the first quarter of next year. In the meantime, Bannister said he sees the S&P 500 leveling at around 4,400 for the remainder of 2023, with rising real yields pressuring growth stocks, according to the note.
See: ‘A year of two halves’: Stifel’s Barry Bannister expects a near-term rally in U.S. stocks — and trouble later in 2023Cyclical value includes areas such as banks, basic materials, capital goods, transportation, diversified financials, real estate, insurance and small-cap value stocks, he said, while describing cyclical growth as mostly “Big Tech.” That’s based on his view of rising real yields pressuring valuations and economic growth slowing without a recession this year.
Cleveland Fed President Loretta Mester said Monday the central bank needs to raise interest rates further because inflation is now expected to be above the Fed’s 2% target for four years.Later this week investors will get a reading on inflation in June from the consumer-price-index, with CPI data scheduled to be released on Wednesday. The U.S.
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。
'This is really happening': Autonomous mowers help solve the labor shortage at DuPage sitesIn an effort to be environmentally friendlier and solve a labor crunch, the Naperville Park District and the Morton Arboretum are testing autonomous electric mowers.
続きを読む »
Christ brings divine order to the burdens and labor of everyday life, says Ohio priestFr. Ambrose Dobrozsi, a priest of the Archdiocese of Cincinnati, Ohio, reflects on the Bible verse Matthew 11:28 and how Christ works to bring a divine order to life.
続きを読む »
Employers across Dallas-Fort Worth rely on guest worker programs amid labor shortagesPatricia Meier only needs a handful of workers -- four ranch hands -- to cut hay, reseed and run tractors at her Burleson farm, where she raises horses and...
続きを読む »
Asia in wary mood for US inflation, earnings testsWeak U.S. consumer-price data could lessen the risk of another Fed rate rise.
続きを読む »
Fed's Mester: Will need to tighten somewhat further to lower inflationThe Federal Reserve (Fed) will need to tighten the monetary policy 'somewhat further' to lower inflation, Cleveland Fed President Loretta Mester said
続きを読む »
Fed's Mester calls for slightly higher interest ratesCleveland Fed President Loretta Mester said Monday that the Fed needs to raise its benchmark interest rate "somewhat further."
続きを読む »