Both JPMorgan Chase and Morgan Stanley are bearish on the current US stock market
Mislav Matejka, an analyst at JPMorgan Chase: Although we believe that the US economy may remain strong initially in the first quarter, the US stock market ultimately lacks fundamental confirmation for the next round of gains. We believe that the risk of recession has not been ruled out yet, and believe that the US stock market rally will fade as the first quarter ends.
Mike Wilson, a US stock strategist at Morgan Stanley, said that stubborn inflation and a strong labor market mean that the stock market rebound in early 2023 will not last because the Fed does not want to give inflation a chance to rise again. We think there will be at least two more rate hikes by June, perhaps three.
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Mislav Matejka, an analyst at JPMorgan Chase: Although we believe that the US economy may remain strong initially in the first quarter, the US stock market ultimately lacks fundamental confirmation for the next round of gains. We believe that the risk of recession has not been ruled out yet, and believe that the US stock market rally will fade as the first quarter ends.
Mike Wilson, a US stock strategist at Morgan Stanley, said that stubborn inflation and a strong labor market mean that the stock market rebound in early 2023 will not last because the Fed does not want to give inflation a chance to rise again. We think there will be at least two more rate hikes by June, perhaps three.
#BTC