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Wall Street pilots stocks amid rate hikes
Senior strategists on Wall Street have affirmed that stocks remain capable of withstanding an increase in interest rates, as this depends on the strength of economic growth and corporate profitability. Despite the market’s fluctuations since mid-August due to inflation concerns, rising oil prices, and falling Treasury yields, the outlook for a continued bullish trend remains intact, supported by strong earnings and healthy financials. The probability of a rate hike in the upcoming meeting is now estimated at 87%. A market correction of about 10% could occur if a significant inflation shock happens. However, stocks continue to be a good hedge against inflation in the medium term.
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