Brace for a tough year for global economic growth, Citi warns.
Risky asset valuations are well above recessionary levels and earnings are skewed to the downside next year, strategists say
The war in Ukraine, rising interest rates, and lockdowns in China are all weighing on global growth.
After a disappointing third-quarter reporting period, analysts are projecting that fourth-quarter U.S. earnings will decline for the first time in two years as rising interest rates and slowing growth further dampen the outlook.
While investors seek shelter in more defensively oriented equity names, one market technician sees the Dow’s growing margin of outperformance over the S&P 500 and Nasdaq as a sign that the latest rebound in stocks might fade away quickly like the last one did.
Producer Price Index data out Tuesday shows another sign that inflation is cooling. PPI for final demand increased 8.0% in October from a year ago. The increase came in below expectations and is lower than the year-over-year increase in September.