JPMorgan Chase Warns US Stocks ‘Not a Good Place To Hide’ As Paul Tudor Jones Braces for Fresh Market Lows
JPMorgan Chase has just issued market update, a feeling of warning and macroeconomic data do not support a prolonged recovery for actions.
Mislav Matejka, chief of the global and European strategy of JPMorgan actions, says that investors seem too optimistic about American actions despite the risks of high recession and commercial uncertainty, reports Investing.com.
Last month, JPMorgan raised the chances of a global recession of 40% to 60% in the middle of the trade war of President Trump.
Matejka says that, unlike the past, American actions are no longer a “good place to hide” during an economic slowdown.
“The real recession could still be avoided, but if we had to pass, the views of many that it is already in the price could be too optimistic.”
Matejka supports his downward position on the S&P 500 stressing that American actions are expensive, trading at 21x profits, while growth expectations are too high to take into account a potential recession. He also warns that the Fed is about to maintain stable interest rates in the midst of increasing inflation expectations, even if the economy shows signs of cracking.
Billionaire Paul Tudor Jones seems to echo JPMorgan's prospect. In a new CNBC interview, Tudor Jones warns that Trump's prices and a Fed Hawkish could drag the stock market below its lower 4,835 points.
“For me, it's quite clear. You have Trump who is locked up on the prices. You have the Fed which is locked up on the cutting rates. It is not good for the stock market. We are likely to go down to new stockings …
There are taxes, such as the highest increase in tax since the [1960s]. So you can gain growth from 2 to 3% and then you have the Fed which is, unless they are really dominant and really, really cut, you are probably going to new stockings. And then when we will be in new stockings, the hard data will start to follow and it will probably create the Fed to move, create Trump to move, then we will get a kind of rally after. “”
At the end of Friday, the S&P 500 is negotiated at 5,659.
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