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JPMorgan Chase An indicator is sending a loud signal to buy US stocks. Previously, the indicator hit the threshold that usually brings higher than average growth.
The team led by Andrew Tyler, head of US market intelligence at JPMorgan Chase, said in a report on Wednesday that the bank's US tactical position index, which measures clients' exposure to US equities, hit a level indicating the attractiveness of the S&P 500 index. According to the report, after a similar four week position adjustment, the S&P 500 index usually rose about 3% in the following 20 days.
US equities have gained so far this week as strong corporate results have boosted the S&P 500 index. The index had fallen for three consecutive weeks because of concerns that interest rates would remain high in the coming months. The focus of this week's stock market is the technology giant, Meta Platforms Inc., which announced its results after the close of Wednesday, Microsoft And Alphabet Inc. on Thursday. On Friday, the key inflation indicator - the personal consumption expenditure price index will be released, and investors will look for signs of price pressure cooling.
"The tactical rebound seems to be expected to continue, and the key lies in the financial reports of large technology stocks and the personal consumption expenditure price index released this week," Tyler wrote. "If all these are appropriate, you may see the market surging upward, but it feels like 'bargain hunting' has started."
He said that the current pattern is similar to that of August and October last year, and the US stock market has rebounded since then.
Earlier this week, Marko Kolanovic, the chief market strategist of JPMorgan Chase, said in a report to clients that with the rise of macroeconomic risks such as rising bond yields and rising oil prices, the stock market decline has not ended.
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Editor in charge: Wang Xuning
