Stocks Volatility Prompts JPMorgan, Morgan Stanley to Shift Tone

Bloomberg2022-10-19

Diverging views highlight uncertainties facing equitiesWall Street bulls are trimming their predictions for S&P 500With their wild swings and reversals exacerbated by a Federal Reserve bent on curbing...

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Comments

RL7741
2022-10-19
RL7741
Good sharing [Smile]
MP88
2022-10-19
MP88
Nice
JoelLee
2022-10-19
JoelLee
D I'm k da z I'm m
MKTrader
2022-10-19
MKTrader
Ok

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It’s an unusual positive call from a long-time bear who correctly foresaw this year’s slump.In contrast, JPMorgan Chase & Co.’s Marko Kolanovic, among Wall Street’s most vocal bulls, has exhibited more caution for the coming months, citing increasing risks from central bank policies and geopolitics. Kolanovic, in effect, cut the size of his equity overweight and bond underweight allocations.The shifting -- and diverging -- view sbetween Wall Street firms highlight the uncertainty facing equities for the remainder of the year. In the latest Bloomberg survey of strategists, the highest year-end target shows a rise of nearly 39% for the S&P 500 from Monday’s close, while the lowest prediction suggests a nearly 13% drop.Despite their modified short-term outlooks, Wilson still retains his overall negative long-term stance on equities, while Kolanovic sees stocks strongly higher by some point next year.Morgan Stanley’s Wilson wrote in anoteon Monday that he “would not rule out” the S&P 500 rising to about 4,150 points -- a nearly 13% upside from Monday’s close -- adding that this would be “in line with bear market rallies this year and prior ones.” Still, the chief equity strategist said he sees the bear market eventually bottoming at around 3,000 to 3,200 points.JPMorgan’s Kolanovic sounded a downbeat note in a report to clients published late on Monday. His decision to trim risk allocations in the model portfolio follow a note earlier this month, when he cited the risks from hawkish central banks and the war in Ukraine. He flagged then that it may take longer for the S&P 500 to reach the firm’s year-end target of 4,800.Prices so far this year have whiplashed from one session to the next, more so to the downside, indicative of the angst strategists and investors feel. An analysis from Bespoke Investment Group showed that over the last 200 trading days, the S&P 500 has only closed higher on 43% of them -- one of the weakest readings seen over the last 70 years.Source: Bespoke Investment Group Source: BloombergOther Wall Street bulls are tweaking their predictions to match the challenges in the US economy. John Stoltzfus, chief investment strategist at Oppenheimer Asset Management, cut his S&P 500 target on Monday, but made it clear that he’s still bullish on equities.“We believe US economic fundamentals remain remarkably resilient, though challenged in a highly transitional environment by persistent high levels of inflation, increasingly restrictive monetary policy to address the inflation, and supply chain problems that remain as well,” he said in a note.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9983197269,"gmtCreate":1666173340951,"gmtModify":1676537717955,"author":{"id":"3585382015740768","authorId":"3585382015740768","name":"RL7741","avatar":"https://community-static.tradeup.com/news/cc534d52d2b9325d1a2e19f4cf928bc2","vip":1,"crmLevel":4,"crmLevelSwitch":1,"authorIdStr":"3585382015740768","idStr":"3585382015740768"},"htmlText":"Good sharing&nbsp;[Smile]&nbsp;","listText":"Good sharing&nbsp;[Smile]&nbsp;","text":"Good sharing [Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9983197269","repostId":2276119238,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9983199003,"gmtCreate":1666170745702,"gmtModify":1676537717556,"author":{"id":"3582798202671514","authorId":"3582798202671514","name":"MP88","avatar":"https://static.tigerbbs.com/98ab4cdb5a6f628d50eef8b5db5303aa","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3582798202671514","idStr":"3582798202671514"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9983199003","repostId":2276119238,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9983100293,"gmtCreate":1666167229312,"gmtModify":1676537717048,"author":{"id":"3579882572140125","authorId":"3579882572140125","name":"JoelLee","avatar":"https://static.tigerbbs.com/e1f6c92b13d94cba61906c07dbbb2ab6","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":1,"crmLevelSwitch":1,"authorIdStr":"3579882572140125","idStr":"3579882572140125"},"htmlText":"D I'm k da z &nbsp;I'm m","listText":"D I'm k da z &nbsp;I'm m","text":"D I'm k da z I'm m","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9983100293","repostId":2276119238,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9983372964,"gmtCreate":1666166154458,"gmtModify":1676537716833,"author":{"id":"3563243258535559","authorId":"3563243258535559","name":"MKTrader","avatar":"https://static.tigerbbs.com/41fde116200c232379312d26e2768f6e","vip":1,"hat":"https://static.tigerbbs.com/6444b4970948c1077534c593eccd6d16","crmLevel":9,"crmLevelSwitch":1,"authorIdStr":"3563243258535559","idStr":"3563243258535559"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9983372964","repostId":2276119238,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":22,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2276119238"}