November 15, 2022
EVEN JPMORGAN’S BULLISH STRATEGIST KOLANOVIC SAYS MARKETS ARE GETTING AHEAD OF THEMSELVES. HERE’S WHAT HE AND A GOLDMAN STRATEGIST SAY TO DO NOW
A not-so-terrible day is setting up as the clock ticks down to Wednesday’s retail sales report.
But as some investors cling to hopes that last week’s stock market run can continue, fueled by that softer inflation report, Wall Street remains wary, and fresh warnings from two big banks making up our call of the day.
Late Monday saw Goldman Sachs caution clients that the relief rally in bonds and risky assets was “likely overdone.” Almost simultaneously, one of Wall Street’s most vocal bulls — Marco Kolanovic of JPMorgan — cut his equity risk exposure for the second time in two months, and he also cited that big market bounce last week.
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