JPMorgan's Kolanovic trims Overweight in stocks amid 'elevated recession risks'
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BofA says clients are selling Energy stocks, sector remains 'historically cheap'
November 15, 2022 8:13 AM ESTNo recent love for Energy, is how Bank of America equity strategist Jill Carey Hall described the recent outflows from this sector. Alongside Industrials, Energy has the longest selling streak this year (late May to late August).
Last week, when the S&P 500 closed nearly 6% higher, BofAs clients... More
BofA's Fund Manager Survey shows allocation to tech lowest since 2006
November 15, 2022 7:44 AM ESTMacro sentiment remains very bearish with 73% of investors expecting the global economy to get weaker over the next 12 months, according to Bank of Americas November survey of fund managers. Similarly, 77% of investors expect profits to get worse over the next 12 months, a slightly better reading relative to last months 77%.
Recession remains the consensus view with 77% of respondents saying recession is likely,... More
Risk-on rally is 'likely overdone', tech stocks are still expensive - Goldman
November 15, 2022 5:18 AM ESTGoldman Sachs strategist Cecilia Mariotti believes the risk-on rally is likely overdone after the S&P 500 rallied about 15% off its recent lows.
The rally in risky assets was fueled by a softer-than-expected CPI print on Thursday while the U.S. dollar and rates fell sharply. Mariotti reminds clients that sharp bear market rallies are not uncommon while extremely bearish... More
