JP Morgan strategist Kolanovic continues to bet on U.S. stocks and becomes Wall Street’s only remaining big short

There is only one big short left among Wall Street’s stock market opinions. After Morgan Stanley’s Mike Wilson defected on Monday, only JPMorgan Chase’s Marko Kolanovic still maintains his pessimistic view on U.S. stocks.

Only one big short is left among Wall Street\’s stock market opinions. After Morgan Stanley\’s Mike Wilson defected on Monday, only JPMorgan Chase\’s Marko Kolanovic still maintains his pessimistic view on U.S. stocks.
Kolanovic reiterated his views in a note to clients late Monday, calling against buying stocks while acknowledging that this negative view has hurt JPMorgan\’s portfolio over the past year as global stocks rose to record highs. Configure the model.
He cited a series of reasons to remain bearish, including high valuations, the likelihood that interest rates will remain restrictive for longer, rising inflation data, consumer pressure and geopolitical uncertainty.
\”The negative stance on equities has hurt the performance of our multi-asset portfolio over the past year,\” Kolanovic acknowledged.
He also added: We do not currently view the stock as an attractive investment. We also do not see a reason to change our position.
Kolanovic is now the last dissident among the Wall Street bank\’s equity strategists after Morgan Stanley\’s Wilson turned bullish on U.S. stocks on Monday.
Wilson now expects the S&P 500 to rise to 5.400 by June 2025. This is a sharp reversal from his previous forecast of a 15% decline for the index by December.
Among the major Wall Street banks, JPMorgan Chase has the lowest year-end target for the S&P 500. It is only 4.200 points, implying more than 20% downside from Monday\’s closing price.
The second-lowest year-end target comes from Citigroup, which gives a forecast of 5.100, indicating that the market is likely to see a mild downside from current levels.
Goldman Sachs has a target of 5.200, also signaling that there is no more room to rise.
But neither the banks\’ top equity strategists, Scott Chronert or David Kostin, are warning that a big drop is coming, as is the JPMorgan team.
At the same time, Bank of America and Wells Fargo expect the S&P 500 index to rise further. The year-end target levels given are 5.400 points and 5.535 points respectively.
Both banks raised their initial forecasts as U.S. stocks continued to climb on the back of a strong economy and corporate earnings, as well as a continued rise in the AI ​​craze.
Kolanovic’s outlook for U.S. stocks has fallen short for the third consecutive year.
Despite his prediction of a decline, the S&P 500 is up 11% so far in 2024.
He was also bearish last year. But the stock market rose 24%.
He was bullish for much of 2022. The market fell 19% that year.

Like (0)
Previous May 21, 2024 4:04 pm
Next May 22, 2024 5:54 pm

Related posts

  • Nissan launches 5 new energy concept cars based on Chinese users and will cooperate with Chinese companies to apply AI and other intelligent technologies

    Sina Technology News On the afternoon of April 25, the 2024 Beijing Auto Show opened today. Nissan unveiled a full range of electrified models, including 5 new energy concept cars, and released a new brand proposition. Makoto Uchida, President and CEO of Nissan Motor Company, said: “The Chinese market is undergoing tremendous changes. Nissan needs to respond quickly and stay competitive. Therefore, under the guidance of Nissan’s new strategic plan ‘The Arc Nissan Arc Plan’, Nissan has tailored a balanced and focused strategy specifically for the Chinese market. We will make concrete progress through three pillars: first, launch more new energy vehicles; second, fully combine local advantages and global capabilities; third, change the operating model. In addition, in order to meet the personalized travel experience of every ‘NI’, Nissan has launched a new brand proposition ‘Enjoy by NI’. These initiatives will help us realize our commitment of ‘in China, for China’. ” According to the latest release of “The Arc Nissan Arc Plan”, Nissan Motor is actively deploying development in the fields of intelligence and electric drive, launching the next…

    US Stocks Focus April 25, 2024
  • Stocks that will see action today 8 May, 2024

    The Securities and Exchange Board of India has slapped a penalty of ₹15 crore on Arun Panchariya for alleged fraudulent activities related to the issuance of Global Depository Receipts (GDR) by Winsome Yarns Ltd. The latest ruling comes less than six months after appellate tribunal SAT, on an appeal filed by Panchariya, asked the watchdog to relook the matter and also said the ₹25 crore imposed on him cannot be sustained. Dixon Electro Appliances, subsidiary of Dixon Technologies, has entered into an agreement with Nokia Solutions and Networks OY (Nokia) for development and manufacture of telecom products. The board of JSW Energy has approved raising funds up to ₹10,000 crore in one or more tranches, as the power producer looks to snap up clean energy companies put on sale, amid targets to achieve 20 Gigawatt (GW) capacity by 2030. Patel Engineering and its joint venture partner have emerged as the lowest bidders for an irrigation project worth ₹343 crore. The company said its share in the irrigation project stands at ₹119.97 crore. The project, located in Maharashtra, involves construction of…

    US Stocks Focus May 8, 2024
  • Broker’s call: MRF (Sell)

    Target: ₹1,10,000

    US Stocks Focus May 8, 2024
  • Why are banks first and real estate last?

    Source: Wasteland Investment Ling Peng’s Strategy Essay

    US Stocks Focus April 25, 2024
  • Kyodo Pharmaceutical (300966.SZ): Net profit in the first quarter was 3.5473 million yuan, a year-on-year decrease of 11.86%

    Gelonghui April 25 | Kyodo Pharmaceutical (300966.SZ) announced the first quarter report of 2024. The operating income during the reporting period was 122 million yuan, a year-on-year increase of 2.35%; the net profit attributable to shareholders of the listed company was 3.5473 million yuan, a year-on-year decrease. 11.86%; net profit excluding non-recurring gains and losses attributable to shareholders of listed companies was 3.4646 million yuan, a year-on-year increase of 2,911.68%; basic earnings per share was 0.03 yuan.

    US Stocks Focus April 25, 2024
  • IPO screener.Aadhar Housing IPO : Blackstone-backed company to list shares today

    Shares of Aadhar Housing Finance will make their debut on the bourses on Wednesday. The company has fixed the IPO price at ₹315, at the upper end of the price range of ₹300-315.

    US Stocks Focus May 15, 2024