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Monday's bounce from Friday's sell-off is proving to be short-lived, with U.S. In emerging markets, the bank expects the MSCI EM index (.MSCIEF) will reach 1500, a 23% increase, while the MSCI China index (.MICN00000PUS) will rise to 116, a 32% increase and the MSCI EMEA (.MIEE00000PUS) will increase to 360, a 34% increase. JPMorgan’s upside targets for 2022 are for the S&P 500 (.SPX) to reach 5050, an approximate 9% increase, while the MSCI Eurozone index (.MIEU00000NEU) will rise to 307, a 17% increase and the FTSE 100 (.FTSE) to reach 8150, a 15% increase. Sector wise, the bank maintains “a pro-cyclical tilt…with preference for reflation-sensitive sectors.” This includes favoring energy and financials over staples and utilities, consumer services over consumer goods, healthcare over other defensive sectors and small-caps over large-caps.
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and recommends the United Kingdom and Italy over Switzerland. In developed markets the bank sees Europe as likely to outperform the U.S. In particular, JPMorgan prefers stocks in China, Indonesia, Russia and Brazil, over those in Malaysia and Peru. However, “next year, a combination of better EM sentiment (from current lows), stronger earnings growth, and convergence of historical relative valuation, should lead to EM outperformance vs DM.” stocks are likely to continue to gain albeit at a more modest pace.Įmerging markets suffered in 2021 “driven by slowdown in China, as well as policy tightening, inflation overhang, EM FX weakness and COVID-19 shocks,” analysts at the bank said in a note on Tuesday. JPMorgan says emerging markets and European stock markets are likely to outperform those in the United States next year, even though U.S. JPMORGAN LOOKS OVERSEAS FOR EQUITY OUTPERFORMANCE NEXT YEAR 1000 ET/1500 GMT) Transports (.DJT) and smallcaps (.RUT), both proxies of economic health, were suffering more than the broader market. Wall Street is taking the gathering Omicron storm to heart, with all three major U.S. "More data will be required to understand whether this demand surge represents simply an acceleration of purchases that would have occurred over the next several years, or reflects a secular change in locational preferences," Lazzara adds.Įvery city in the 20-city composite posted double-digit annual gains, with Phoenix in the lead for the 28th consecutive months, with 'valley of the sun' home prices up an astounding 33.1% over 12 months ago. "Housing prices continued to show remarkable strength in September, though the pace of price increases declined slightly," writes Craig Lazzara, managing director at S&P DJI. The demand wave has been supported by a pandemic that seems to keep finding new ways to linger, and combined with still-low inventories and scarce building supplies, home prices show few signs of coming back to earth. The S&P Case Shiller's 20 city composite (USSHPQ=ECI) shaved 0.5 percentage points to a year-on-year print of 19.1% coming in a shade below the 19.3% consensus. home prices eased up a bit in September but are still running white-hot. If past is prologue, that exaggerated gap could be a harbinger of impending recession, as shown in the graphic below: While Lynn expects "a good season for retailers," she adds that "confidence and spending will likely face headwinds from rising prices and a potential resurgence of COVID-19 in the coming months."ĭelving into the report's subcomponents, survey respondents grew slightly more pessimistic about both their current situation and near-term expectations both slipped.īut the gap between those two measures remains unusually wide.
#The price is right season 49 drivers#
"Concerns about rising prices-and, to a lesser degree, the Delta variant-were the primary drivers of the slight decline in confidence." "Expectations about short-term growth prospects ticked up, but job and income prospects ticked down," writes Lynn Franco, CB's senior director of economic indicators. The Conference Board's (CB) consumer confidence index (USCONC=ECI) slid by 2.1 points in November to 109.5, undershooting economist forecasts.
#The price is right season 49 full#
With the holiday shopping season in full swing, the mood of the consumer, who does the economic heavy lifting by contributing about 70% of U.S.