9/21/2023 0 Comments Above and beyond 500On Saturday, October 10th at Banc Of California Stadium in Los Angeles, Above & Beyond will commemorate 500 episodes of their enduring mix show, Group Therapy Radio. We expect US Treasury yields to fall by year-end as both US economic growth and inflation moderate," Haefele wrote.In Los Angeles! For dance music’s biggest weekend, Above & Beyond and the artists from their Anjunabeats and Anjunadeep labels are finalizing their plans. "Our base case view is that by the November FOMC meeting, the economy will have shown clear signs of slowing, leading the Fed to finally put an end to its sharpest rate hike cycle since the 1980s. UBS is also watching for a potential rebound in savings rates and further cooling in the labor market. Last month's increase in core PCE came out well above the Fed's target, which could sustain the possibility of another rate hike, the analyst said. Some remaining uncertainties could still keep market on edge, Haefele said in the Monday note. "Contradictory evidence and conflicting interpretations of economic data, asset pricing, and the outlook for Fed policy have buffeted asset prices in recent weeks as expectations of a soft landing for the US economy have ebbed and flowed." "August was a tough month for investors," said Mark Haefele, global wealth management chief investment officer at UBS, noting that the S&P 500 ended last month down 1.6%. economy, saying inflation is moving closer to the Federal Reserve's target without a recession this year. UBS is sticking by its view of a "softish" landing for the U.S. The first phase will be slowdown is good news, because it means inflation is coming down.In that environment, I think folks are going to want to continue to be overweight to technology and consumer." Senyek said on CNBC's "The Exchange."įurther into the year, Senyek sees investors becoming slightly more weary into owning technology stocks, but not enough to drop the sector entirely. ![]() "We think that the market will go into two phases here in the back half of the year. Senyek said on Tuesday that the energy sector is his "favorite," citing OPEC's commitment to voluntary crude oil production cuts, strength in Brazil's economy, which was partly lifted by the country's solid crude oil output, as well as the energy sector's ability to hold up in the face of gloomy economic news from China. The S&P Energy sector is leading the broader market, up 11.7% this quarter.Īside from energy, Senyek is optimistic on technology and communication services, which are up nearly 2% and 6.2% for the quarter, respectively. "While history may not repeat, bullish momentum this year suggests September may not be as bad as the headlines suggest," said Adam Turnquist, chief technical strategist at LPL Financial.Įnergy is the top pick for Wolfe Research chief investment strategist Chris Senyek. In a sign of positive short-term momentum, the major indexes broke above their respective 50-day moving averages last week. To be sure, some technical indicators have given investors hope in recent days. While this could be seen as good news for the market, investors have to contend with seasonal effect in September, historically the weakest month for equities. Over the extended holiday weekend, Goldman Sachs cut its recession odds to 15% and said it anticipates the Federal Reserve skipping a rate hike at its policy meeting later this month. The S&P Midcap 400 slumped about 2.3%, and the Russell 2000 fell 2.1%. The S&P Small Cap 600 sank nearly 3% for its worst day since February. ![]() There's already a fine line between the Fed landing the soft landing that people are hoping for" and an economic slowdown.Īnother hard-hit area included small-and midcap stocks. "If you have oil prices moving up that could be inflationary," said Keith Lerner, co-chief investment officer at Truist Advisory Services. The yield on the 10-year Treasury surged roughly 9 basis points to about 4.27%. Treasury yields also popped, straining risk assets. The uptick in oil pressured airline and cruise stocks, with American Airlines, United Airlines, Delta Air Lines and Carnival shedding more than 2%. Shares of Halliburton and Occidental Petroleum each added more than 2%, while EOG Resources rose 1.8%. The news lifted energy stocks, with the S&P 500 sector gaining 0.5%. West Texas Intermediate futures popped more than 1% and briefly traded above $87 per barrel, reaching their highest levels since November. Oil prices rose after Saudi Arabia and Russia extended voluntary supply cuts. ![]() Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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