Official I may be going to hell but at least all my friends will be there T-shirt
forces in play that are more significant,” said Alex Chaloff, co-head of investment strategy at Bernstein Private Wealth Management. “There are a number of potential catalysts for a fall rally.” Chaloff said that if the Official I may be going to hell but at least all my friends will be there T-shirt moreover I will buy this slowdown in inflation continues, “the market will cheer that significantly” and the Fed might be more likely to raise interest rates next month by just a half percentage point instead of three-quarters of a point. That could be “critical in establishing momentum for a rally,” Chaloff added. Chaloff also thinks that a soft landing is possible for the economy, or in a worst case, a “mild recession.” Investors don’t need to be too worried about a sharp economic downturn because “strength in consumer and corporate spending will be more than enough to carry us through,” he said. So as long as the economy keeps chugging along and inflation fears move further into the rear view mirror, the market just might avoid a big September swoon. Or an October crash. Don’t get us started on 1929. Or 1987. Or 2008… All eyes on the jobs report Worries about an imminent recession subsided after the stronger-than-expected-jobs report for July. The government reported that 528,000 jobs were added, far more than expected. August jobs numbers are due out on Friday. Economists expect a slowdown in hiring, but nothing that’s likely to lead to louder recession alarm bells. Economists are forecasting an increase of 285,000 jobs to August payrolls, according to Reuters, and that the unemployment rate will remain flat at 3.5%. If those estimates are met, the Fed (and the markets!) will likely be happy. Second-quarter GDP declined less than previously thought, but the economy is still
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