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October's report suggests the labor market remains robust despite ongoing recession fears. Within this industry, health care saw payrolls rise by about 53,000. Professional and business services saw an increase of 39,000. Leisure and hospitality saw an increase of 35,000, as employment in this industry still falls below its pre-pandemic level. Friday's job report follows the Fed's recent outsized increase in interest rates for the fourth time in a row. Although Americans and businesses may be worried about the likelihood of a recession, the labor market is still strong, which can be beneficial amid these fears.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed pause may remove headwinds on growth stocks, says JPMorgan's Meera PanditMeera Pandit, JPMorgan asset management, joins 'Closing Bell' to discuss the upcoming job report and how the Fed will react to it.
Bond-based ETFs entice balance-seeking investors
  + stars: | 2022-11-03 | by ( Kevin Schmidt | ) www.cnbc.com   time to read: +3 min
Lake runs the JPMorgan Ultra-Short Income ETF (JPST) , which is currently the largest actively managed ETF in the world. "Investors are using JPST as a place to hide out while they wait for the market to find its footing," he said. The actively managed ETF invests primarily in a diversified portfolio of short-term, investment grade fixed-and floating-rate corporate and structured debt. "But when you're looking at a passive kind of fixed income benchmark, that's not exactly how investors really think about investing in bonds." Traders investing in bond ETFs, according to Lake, are looking for a fund that will balance a portfolio and offer yield with a low correlation to equities.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe odds of a recession are extremely elevated, says JPMorgan's Gabriela SantosGabriela Santos, global market strategist at JPMorgan Asset Management, joins CNBC's 'Squawk Box' to provide a market outlook ahead of the first trading day in November.
Risks of a recession are "extremely elevated" JPMorgan strategist Gabriela Santos said, warning a downturn could come mid-2023. The odds of a recession are at 50% today, compared to normal levels of 15%, she told CNBC. Santos added those risks needed to be priced into the market before a sustainable rally could take place. Though a soft landing is still possible, she put the odds of a recession at 50% today, compared to normal levels of 15%. "We would still put the odds at over the next 12 months as extremely elevated versus what's normal," Santos said on Tuesday in an interview with CNBC.
Mike Schenk, chief economist of Credit Union National Association, said in a statement that the "healthy economic growth will not last." CEOs are pessimistic about the future and the hot labor market is coolingCEOs, for one, aren't feeling too good about the economy. "The labor market continues to be hot, even if it's cooled a little bit since the beginning of this year," Bunker told Insider. "Where we're seeing it does signal that it is sectors normalizing, rather than dramatically pulling back postings because they are concerned about short term economic growth." He noted that excess labor demand "gives you a lot of running room here before the labor market actually gets soft."
U.S. consumer spending has remained strong, rising more than expected in September, despite underlying inflation pressures continuing to bubble. "If you look at stocks and asset prices, you would probably expect the Fed to be already easing by now," Gurevich said. read moreHowever, Anita Gupta, head of equity strategy at Emirates NBD, told the forum it was "too early" to draw conclusions for other central banks from this move. "If you're going downhill and pushing your foot on the accelerator, it's going to be very hard to break," Gurevich said. "I feel it's already too late for them to stop deflation and a recessionary cycle."
That beats the 2.4% growth estimate. The advance estimate suggests the US economy is growing again after shrinking in the first two quarters of 2022. That comes after the US economy shrank by 0.6% and 1.6% in the second quarter and first quarter of the year respectively. We also should see a modest positive growth rate after two quarters of negative growth." Kelly said in a note that "this week's GDP report could show surprising strength, especially following two negative quarters and numerous predictions of imminent recession."
That beats the 2.4% growth estimate. The advance estimate suggests the US economy is growing again after shrinking in the first two quarters of 2022. That comes after the US economy shrank by 0.6% and 1.6% in the second quarter and first quarter of the year respectively. We also should see a modest positive growth rate after two quarters of negative growth." Kelly said in a note that "this week's GDP report could show surprising strength, especially following two negative quarters and numerous predictions of imminent recession."
That’s why it’s so surprising that the US economy is expected to show robust growth in Thursday’s third-quarter GDP report. Economists warn that the report could be a one-hit-wonder that overstates momentum in an economy that is actually slowing. “There is more braking power being inflicted on the US economy than will be at all apparent in the third-quarter GDP report,” wrote Kelly. Central bank officials are going to be looking at underlying metrics in the report, and will likely ignore headline numbers, said Patterson. The bottom line: The rejiggering of trade balances often falsely inflates economic growth calculations ahead of a recession.
Speculation about a potentially more dovish Fed - despite U.S. inflation remaining hot - was visible in money markets. But they climbed back again, with the benchmark 10-year Treasury yields up at 4.229% and two-year note yields at 4.498%. On the long end, 30-year Treasury yields rose to an 11-year high of 4.359%. "If the Fed is going to be data dependent, these data points should be a focus point for them. Whether or not that actually happens, is yet to be seen," said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYou're seeing earnings positivity reflected in stock markets right now, says Northwestern Mutual's SchutteBrent Schutte, Northwestern Mutual Wealth Management CIO, and Meera Pandit, JPMorgan Asset Management, join 'Squawk on the Street' to discuss Pandit's take on equity markets, how Schutte sees the markets right now and how Pandit is positioning as an investor.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe recession next year will be very unsurprising, says JPMorgan's PanditMeera Pandit, JPMorgan Asset Management global market strategist, joins 'Squawk Box' to discuss whether equities are in a bear market rally or have hit a turning point.
Governor of the Bank of England, Andrew Bailey, speaks during the Bank of England's financial stability report news conference, at the Bank of England, London August 4, 2022. And what they can't allow is for the bond market to be overly volatile," said Iain Stealey, CIO of fixed income at JPMorgan Asset Management. U.S. and German 30-year borrowing costs are up just 16 and 33 bps respectively , this month and the contrast highlights the scale of selling gripping Britain's bond market. The unprecedented bond market moves triggered hefty collateral calls on hedging strategies that many funds are still struggling to meet. Bond market volatility has also raised doubts about whether the BoE can press ahead with its plan to sell some of its bond holdings, a process known as quantitative tightening (QT).
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPPI data shows inflation deceleration still in early days, says JPMorgan's SantosStephanie Link, Hightower Advisors chief investment strategist, Gabriela Santos, global market strategist at JPMorgan Asset Management, and CNBC's Steve Liesman and Rick Santelli join CNBC's 'Squawk Box'
An employee works on the production line of semiconductor wafer at a factory of Jiangsu Azure Corporation Cuoda Group. China has stepped up investment into its chip industry in a bid to be self-reliant in crucial technology needed for electric vehicles, smartphones and more. U.S.-China tensions have pushed Beijing to be more self-sufficient, and that could be a good thing for innovators in China, according to an investment specialist at JPMorgan Asset Management. In the mid-1990s, Chinese companies were mostly mass market manufacturers of "commoditized goods," he added. "I think that the geopolitical tension you're talking about will just actually supercharge that — because China needs to do these things itself, and they will carry on with progress in that area."
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors should still be underweight equities, says JPMorgan's Gabriela SantosAmy Wu Silverman, head of derivatives strategy at RBC Capital Markets, and Gabriela Santos, global market strategist at JPMorgan Asset Management, join CNBC's 'Squawk Box' to lay out their market strategies ahead of the open.
The Federal Reserve's Wednesday rate hike was just the beginning of the world's fight against inflation. A smattering of other central banks have followed suit, while some others took a different course. For now, pain fueled by central banks is likely to continue. The Fed's 75 basis-point rate hike on Wednesday was the first of many such moves this week as the policymakers globally confront surging prices. Three investing experts explained how to adjust your portfolio to benefit from the Fed's rate hike and rising inflation.
Watch CNBC's full interview with JPMorgan's David Lebovitz
  + stars: | 2022-09-23 | 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 EmailWatch CNBC's full interview with JPMorgan's David LebovitzDavid Lebovitz, JPMorgan Asset Management global market strategist, joins 'Closing Bell' to discuss how an investors can navigate the current market environment and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe think high-quality fixed income is looking more and more attractive, says JPM's LebovitzDavid Lebovitz, JPMorgan Asset Management global market strategist, joins 'Closing Bell' to discuss how an investors can navigate the current market environment and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed is in grave danger of being too hawkish, says JPMorgan's David KellyJim Caron, global fixed-income portfolio manager at Morgan Stanley Investment Management; David Kelly, chief global strategist at JPMorgan Asset Management; and Katie Nixon, chief investment officer at Northern Trust Wealth Management, join 'Power Lunch' to discuss Fed policy hikes, the rapid rise in the 2-year note, and the looming economic slowdown.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Allspring's Ann Miletti and JPMorgan's Phil CamporealeAnn Miletti, Allspring Global Investments head of active equity, and Phil Camporeale, JPMorgan Asset Management portfolio manager, join 'Squawk on the Street' to discuss whether inflation has peaked, where Miletti is looking for investment deals, and which assets Camporeale is considering investing in.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're positioning defensively because we don't know where Fed is going, says JPMorgan's CamporealeAnn Miletti, Allspring Global Investments head of active equity, and Phil Camporeale, JPMorgan Asset Management portfolio manager, join 'Squawk on the Street' to discuss whether inflation has peaked, where Miletti is looking for investment deals, and which assets Camporeale is considering investing in.
Prices keep going up. In the US, the prices of food and non-alcoholic drinks bought for at-home consumption increased by 13.5% in the year to August 2022, per data from the Bureau of Labor Statistics. Overall inflation, measured by the BLS's consumer-price index, was at 8.3%. Americans have plenty of savings and should keep spending, JPMorgan Asset Management has said. Justin Sullivan/Getty ImagesSources: BLS, Insider, Insider
Here are six key financial mistakes I've seen folks in their 30s make, and why you should avoid them:1. Not having an emergency fundHaving an emergency fund is key to avoid debt later in life, when retirement goals should be front and center. Being underinsuredMany people don't like to buy insurance because it means paying for something they hope to never use. One medical emergency or accident on the job, for example, can change your financial trajectory. The faster you can pay those off, the more money you'll have to put towards other financial goals that become increasingly important as you progress in your 30s.
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