News
A stock market correction right now would be ‘healthy,’ says JPMorgan
Published
5 months agoon
By
admin
Sometimes, taking a step back is a good thing. That’s JPMorgan’s view of the stock market right now. “A correction would be healthy as it would remove some of the froth in the market, setting the stage for the next phase of the rally,” strategist Dubravko Lakos-Bujas wrote. “If a correction materializes, we would expect some large [assets under management] investors that have been waiting on the sidelines since April to buy-the-dip along with corporates and retail.” Stocks faced headwinds last week, as trade tensions between China and the U.S. flared up again. On top of that, concerns over bad loans briefly roiled regional bank names. Still, the major averages ended last week with solid gains — keeping market valuations elevated. The S & P 500 and Nasdaq Composite advanced 1.7% and 2.1%, respectively, while the Dow Jones Industrial Average climbed 1.6%. The benchmarks all less than 2% below the record highs set earlier this month. .SPX 1M mountain SPX 1-mo Lakos-Bujas is also positive on stocks longer-term. He sees the S & P 500 rising to 7,000 by early next year. That target implies upside of 5% from Friday’s close. “With all of this in mind, we remain cautious in the near-term with buybacks … also becoming more constrained as corporates are entering peak buyback blackout window,” he said. Oppenheimer technical strategist Ari Wald also noted that equities typically pause in October. He expects the trend to continue this time around. “We’re following the seasonal road map that indicates bull markets often pause in October ahead of stronger year-end returns — we recommend buying market weakness and not timing market weakness,” he said in a note to clients. Wald said investors should watch the 6,360 level on the S & P 500 for support. If the benchmark pulls back but manages to stay above that mark, it will set it up for strong gains heading into the end of the year.
This industrial giant is emerging as a big AI play, says Wells Fargo
Novo Nordisk’s strategy tested as investors push back on board revamp
Alibaba plans AI subscriptions, stablecoin-like payments with JPMorgan
UK borrowing costs spike on report government to scrap plans to raise income tax
Trump’s threatened the BBC with a $1B lawsuit: Here’s what’s going on
UBS’s picks for global returns next year
Wells Fargo sees Caterpillar continuing to roar higher, emerging as an artificial intelligence play. The bank initiated shares of...
Flags with the logos of Danish drugmaker Novo Nordisk, maker of the blockbuster diabetes and weight-loss treatments Ozempic...
Key Points Alibaba plans to use “tokenization” of payments for cross-border transactions in its business-to-business arm. Kuo Zhang, president...
Rachel Reeves, U.K. chancellor of the exchequer, delivers a speech in London, UK, on Tuesday, Nov. 4, 2025. Bloomberg...
US President Donald Trump speaks to reporters as he arrives at Palm Beach International Airport on Oct. 31,...
Investors looking for global diversification opportunities should look to a specific subset of stocks in Europe, according to UBS...
Eakarat Buanoi | Istock | Getty Images LISBON, Portugal — Top tech executives told CNBC they’re concerned about...
Tan Su Shan, deputy chief executive officer and managing director of institutional banking at DBS Group Holdings Ltd., speaks during...
CHENGDU, CHINA – OCTOBER 18: People walk past the Louis Vuitton store at Taikoo Li, a high-end shopping area that...
The United States said Thursday it will remove tariffs on some foods and other imports from Argentina, Ecuador, Guatemala and...
