{"id":85133,"date":"2023-11-16T01:51:19","date_gmt":"2023-11-16T06:51:19","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/sp-500-close-to-exiting-correction-territory-as-jpmorgan-warns-risk-reward-in-stocks-appears-unattractive\/"},"modified":"2023-11-16T01:51:21","modified_gmt":"2023-11-16T06:51:21","slug":"sp-500-close-to-exiting-correction-territory-as-jpmorgan-warns-risk-reward-in-stocks-appears-unattractive","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=85133","title":{"rendered":"S&#038;P 500 close to exiting correction territory as JPMorgan warns risk-reward in stocks appears \u2018unattractive\u2019"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002732294\" role=\"document\">\n<p>The S&amp;P 500 was pressing higher Wednesday, with the widely followed index nearing a potential exit from correction territory as stocks surge in November.<\/p>\n<p>Stocks are seeing a strong rebound this month, but the risk versus reward in equities remains \u201cunattractive\u201d as the Federal Reserve continues to hold interest rates at a restrictive level, according to JPMorgan Chase\u2019s Marko Kolanovic.<\/p>\n<div class=\"paywall\">\n<p>\u201cFalling bond yields are being interpreted by equity markets as a positive in the near term,\u201d said Kolanovic, JPMorgan\u2019s chief global market strategist, in a research note on global asset allocation. Yet, \u201cabsent pre-emptive rate cuts by global central banks, we see risks compounding with peak effect of restrictive monetary policy still ahead.\u201d<\/p>\n<p>Fresh economic data released Wednesday showed retail sales in the U.S. fell in October for the first time in seven months, although it was a slight decline of 0.1% and smaller than forecast by economists polled by The Wall Street Journal.<\/p>\n<p>Kolanovic has raised concern that high rates on consumer loans and diminishing consumer savings risk hurting company profits in the coming quarters.\u00a0<\/p>\n<p>\u201cUltimately, consensus expectations of 12% forward EPS growth, which in our view is divorced from these risks, should be revised lower,\u201d he said in the note, referring to earnings per share.\u00a0<\/p>\n<p>U.S. stocks have jumped in November, with the S&amp;P 500 climbing around 7.5% so far this month. That\u2019s based on the index<br \/>\n        SPX<br \/>\n       trading up 0.2% on Wednesday afternoon at around 4,506, according to FactSet data, at last check.<\/p>\n<p>The S&amp;P 500 would need to close slightly above 4,529 to exit correction territory, according to Dow Jones Market Data. A correction is a fall of more than 10%, but less than 20%, from a recent peak. A market exit corrections when it subsequently rises 10% or more from its correction low.<\/p>\n<p>The recent strong advance in equities, which follows three straight months of losses for the index, comes amid a drop in Treasury bond yields in November.<\/p>\n<p>On Wednesday, the yield on the 10-year Treasury note<br \/>\n        BX:TMUBMUSD10Y<br \/>\n      was rising to around 4.54%, according to FactSet data, at last check. But it remained down in month-to-date trading after on Tuesday seeing its biggest drop since March 10 based on 3 p.m. Eastern Time levels, according to Dow Jones Market Data.<\/p>\n<p>As for central banking policy, the Federal Reserve decided at its policy meeting earlier this month to keep its benchmark interest rate at a target range of 5.25% to 5.5%, leaving it a 22-year high as the Fed continues battling inflation.\u00a0<\/p>\n<p><strong>Read:<\/strong> Bank stocks surge after inflation report, regional banking ETF logs biggest gain since May<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/s-p-500-close-to-exiting-correction-territory-as-jpmorgan-warns-risk-reward-in-stocks-appears-unattractive-45da4425?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The S&amp;P 500 was pressing higher Wednesday, with the widely followed index nearing a potential exit from correction territory as stocks surge in November. Stocks are seeing a strong rebound this month, but the risk versus reward in equities remains \u201cunattractive\u201d as the Federal Reserve continues to hold interest rates at a restrictive level, according [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":85134,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-85133","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>S&amp;P 500 close to exiting correction territory as JPMorgan warns risk-reward in stocks appears \u2018unattractive\u2019 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The S&amp;P 500 was pressing higher Wednesday, with the widely followed 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