Thursday, 25 July 2024

JP Morgan warns of a bout of volatility in US stocks

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The trading department at JP Morgan Chase Bank warned investors in the stock market that they should prepare for a bout of volatility in the stock market this week after a long period of calm, according to inflation numbers that will determine stock movements tomorrow.

The bank said that if monthly core inflation exceeds 0.3%, it would likely trigger a broad sell-off of risk assets, with the S&P 500 falling between 1.25% and 2.5%.

He continued, “On the other hand, any rise less than 0.1% will be considered very positive for stocks, and will likely lead to calls to cut interest rates in July and thus a rise ranging between 1% to 1.75% in the S&P 500 index.”

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