Chamath Palihapitiya Thinks Soft Landing For US Economy More Likely: 'Hard-Landing Crowd Has Begun To Capitulate'
Portfolio Pulse from Bhavik Nair
Billionaire venture capitalist Chamath Palihapitiya believes the US economy will more likely see a soft landing, enduring a few more rate hikes in 2023 and setting up for a sustained forward-looking rally. His comments come amid concerns about extended rate hikes by central banks and a potential recession. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (QQQ) closed lower on Monday.
June 27, 2023 | 5:36 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Chamath Palihapitiya's soft landing prediction for the US economy may ease concerns about extended rate hikes and recession. QQQ closed 1.34% lower on Monday.
Palihapitiya's prediction of a soft landing for the US economy may ease concerns about extended rate hikes and recession, which could have a neutral impact on QQQ in the short term. However, the ETF closed 1.34% lower on Monday, indicating that market sentiment is still cautious.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Chamath Palihapitiya's soft landing prediction for the US economy may ease concerns about extended rate hikes and recession. SPY closed 0.41% lower on Monday.
Palihapitiya's prediction of a soft landing for the US economy may ease concerns about extended rate hikes and recession, which could have a neutral impact on SPY in the short term. However, the ETF closed 0.41% lower on Monday, indicating that market sentiment is still cautious.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50