Jim Chanos: Bear market is doing something unheard of in my career
Publishing timestamp: 2023-01-30 20:59:38
Summary
Jim Chanos, a famed short seller, warned that the market will not be able to overcome rising rates and falling corporate profitability. He doubts the bullish scenario of corporate profits rising 12%, 2% inflation, and a Fed rate cut within the next six to seven months will unfold. He believes the S&P 500 will fall from its current level of 4017.77 to between 1800 and 2800.
Sentiment: NEGATIVE
Tickers: .SPX, SLG'I, XLK, JETS, COIN,
Keywords: cryptocurrency, technology select sector spdr fund, sl green realty corp, economy, stock markets, markets, s&p 500 index, layoffs, recessions and depressions, wall street, jobs, technology, us global jets etf, real estate investing, interest rates, business news, investment strategy, bitcoin, meme stocks, hedge funds, retail investors, coinbase global inc, jerome powell, inflation, covid-19, federal reserve bank, monetary policy, earnings,