CryptoGlobe on Nostr: JPMorgan's David Kelly: S&P 500 at 5,000 Signals Strong U.S. Economic Outlook ...
JPMorgan's David Kelly: S&P 500 at 5,000 Signals Strong U.S. Economic Outlook
==========
On February 9, David Kelly, chief global strategist for JPMorgan Asset Management, discussed the significance of the S&P 500 reaching 5,000. He highlighted the tremendous growth in financial assets and the profit share of GDP over the decades. Kelly noted that the market's upward trajectory is now more about valuations than earnings growth. He predicted a base case for 2024 with 2% growth, inflation heading towards the Federal Reserve's 2% target, and low unemployment. The U.S. economy's resilience, particularly in consumer spending and business investment, has distinguished it from other global economies. Kelly discussed the potential for wage growth to remain around 4% and decreasing inflation pressures. He suggested that the U.S. might see inflation numbers grind lower through the year, with the strong dollar helping to offset any spikes in import inflation.
#U.s.Economy #UsStockMarket
https://www.cryptoglobe.com/latest/2024/02/sp-500s-milestone-jpmorgan-strategist-predicts-the-path-ahead-amid-economic-shifts/
==========
On February 9, David Kelly, chief global strategist for JPMorgan Asset Management, discussed the significance of the S&P 500 reaching 5,000. He highlighted the tremendous growth in financial assets and the profit share of GDP over the decades. Kelly noted that the market's upward trajectory is now more about valuations than earnings growth. He predicted a base case for 2024 with 2% growth, inflation heading towards the Federal Reserve's 2% target, and low unemployment. The U.S. economy's resilience, particularly in consumer spending and business investment, has distinguished it from other global economies. Kelly discussed the potential for wage growth to remain around 4% and decreasing inflation pressures. He suggested that the U.S. might see inflation numbers grind lower through the year, with the strong dollar helping to offset any spikes in import inflation.
#U.s.Economy #UsStockMarket
https://www.cryptoglobe.com/latest/2024/02/sp-500s-milestone-jpmorgan-strategist-predicts-the-path-ahead-amid-economic-shifts/