UBS analyst Nadia Lovell recently shared her insights on the US economy during an appearance on CNBC’s ‘Squawk Box’. She predicts that the market will continue to trend upwards in the second half of the year, albeit not as dramatically as in the first half. Lovell emphasized the importance of upcoming earnings reports in driving market growth, especially considering current stretched valuations.
Interestingly, Lovell’s market forecast hinges on the expectation of two rate cuts this year, starting in September. However, she clarified that these cuts are not necessary for market growth, as demonstrated by the strong performance in the first half of the year. Lovell also highlighted the potential impact of former President Trump’s proposed tariffs on imports from China, noting that it could benefit certain industries while posing challenges for others with global supply chains.
The next Federal Open Market Committee (FOMC) meeting is scheduled for July 30-31, 2024. It is important to note that this information is not intended as investment advice.
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