Global S&P Futures mixed in premarket
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- Dow jumps to record closing high after soft US jobs data, Nasdaq down with chip shares
- Goldman's Garrett sees investors dialing back tech exposure into H2
- AI chip winners may face tougher road ahead as hyperscalers catch up: JPM
- Oil gains on short-covering buys ahead of US holiday
- Rivian stock jumps 5% on raised delivery outlook
- Analysis-Excommunications show a Pope Leo unafraid of making firm decisions
- Canaccord Starts Infleqtion, Inc (INFQ) at Buy
- Dow jumps to record closing high after soft US jobs data, Nasdaq down with chip shares
- Jersey Mike's Subs files for IPO on NYSE under ticker JMKE
- Meta CEO Mark Zuckerberg Says In Internal Town Hall That Ai Agent Development Over The Last Four Months Hasn't 'accelerated In The Way We Expected' - Reuters
JPMorgan Kolanovic Downgrades Equity Allocation in Model Portfolio to Moderate-Underweight from Overweight
December 12, 2022 3:50 PM ESTJPMorgan Kolanovic Downgrades Equity Allocation in Model Portfolio to Moderate-Underweight from Overweight.
The analyst comments "This year our model portfolio has outperformed its benchmark by ~350bps, thanks to our UW of bonds and OW of commodities. Given the weak near-term outlook for markets, we reduce risk going into... More
S&P 500 could fall 20% in recession - Goldman Sachs
December 12, 2022 7:41 AM ESTGoldman Sachs Chief U.S. Equity Strategist David Kostin believes the S&P 500 could fall to the low 3000s in case the U.S. enters a recession next year.
Kostins base-case scenario for the S&P 500 sees a drop to 3600 in the first half of the year before an H2 rally to 4000 by end of 2023. However, the selloff could extend to 3150 in case of a recession, implying a 20% downside risk from Fridays closing price.
In a recession, we expect earnings would decline by roughly 11%... More
