Global stocks notched their second-worst month of the year in August, with the MSCI broad aggregate of world indexes dropping 2.96%, according to LSEG data.
This has carried into a tepid start to September trade, but Madison Faller, global investment strategist at JPMorgan Private Bank, said in a research note on Friday that 2023 can still finish strong.
"While there are still things we don't know, the read from the key players — central banks, Wall Street, Main Street and the C-suite — suggests that the outlook feels brighter today than it did a year ago," Faller said.
"With less worry about the near term, more firms are starting to focus on how they can continue growing in the long term.
Technology stocks, particularly those with a heavy focus on AI, have driven a huge portion of the market's gains so far this year.
Persons:
Madison Faller, Faller, haven't, Jerome Powell, Powell didn't, Goldman Sachs, it's, Peter Oppenheimer, we're, Tesla
Organizations:
NYSE, NYSE Stock, JPMorgan Private Bank, Federal Reserve, Fed, European Central Bank, Bank of England, Global Equity, CNBC, Nvidia, Facebook
Locations:
Wall, China, U.S