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Federal Reserve Chair Jerome Powell's speech gave the stock market a jolt higher, reaffirming expectations for interest rate cuts going forward. Still, I believe the Fed will remain data dependent, which should temper euphoria and keep the S & P 500 in its 2024 range. I want to embrace this range and position accordingly for U.S. equites to again cool off going into September. Volatility has been the overarching theme for August, and I believe the recent uber-sensitivity to macro data will keep markets extraordinarily spastic. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.
Persons: Jerome Powell's, equites, Powell Organizations: Nvidia, Fed, CNBC, NBC UNIVERSAL
'Yen is the weakest currency out there,' FX strategist says
  + stars: | 2024-06-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Yen is the weakest currency out there,' FX strategist saysValentin Marinov, head of G10 FX research at Credit Agricole, discusses the Yen and the outlook for Japanese equites.
Persons: Valentin Marinov Organizations: Credit Agricole
But UBS analysts are expecting that global equity valuations will sell off later this year. Stocks may be riding the ongoing bull rally back to all-time highs, but that doesn't mean Wall Street's fears of an economic downturn have completely dissipated. In fact, even prominent investors such as Evercore founder Roger Altman have called for a recession by the end of 2023. And according to analysts at UBS investment bank, a potential market sell-off wouldn't be solely concentrated in the technology sector. In the note, Baweja and his team also shared nine "essential" charts showing why they expect equities to sell off this year.
Persons: Roger Altman, Joe Mazzola — Charles Schwab's, , Bhano Baweja, Baweja Organizations: UBS
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