JP Morgan's Kolanovic Prefers Cash Over Stocks In 2024, Cites Improbability Of Swift Rate Cuts By Federal Reserve
Portfolio Pulse from Benzinga Neuro
JP Morgan's Marko Kolanovic recommends preferring cash over stocks in 2024 due to the improbability of swift Federal Reserve interest rate cuts. Kolanovic cites high equity valuations, tight credit spreads, and low market volatility as indicators of a non-conducive investment environment for stocks. Despite 2023's bullish market, he predicts minimal or negative stock gains in 2024, with potential economic downturns and less frequent rate cuts than expected. JP Morgan forecasts an 8% drop in the S&P 500 for next year.
December 21, 2023 | 1:37 am
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JP Morgan's strategist Marko Kolanovic's bearish outlook on stocks for 2024 could influence investor sentiment towards JPM, potentially impacting its stock price.
Kolanovic's position as a JP Morgan strategist gives his views potential weight among investors, which could lead to a more cautious approach to JPM stock. His bearish outlook on the broader market, including the prediction of an S&P 500 drop, could contribute to negative sentiment towards JPM shares in the short term.
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