JP Morgan revises US stock outlook
J.P. Morgan's expectations for the U.S. stocks have shifted from optimistic to tactically cautious, due to the stern remarks made by the Federal Reserve Chair that heightened expectations of interest rate hikes at the September meeting. Although the market fundamentals remain strong, the uncertainty surrounding the trajectory of monetary policy may lead markets to move sideways in the short term. The yield on the 10-year U.S. Treasury bonds rose above 4.75% for the first time since January 2025, with a 70% chance of a quarter-point rate increase in September, amid anticipation of employment and consumer price data that will determine the next direction for the markets.
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