Don't trust the stock market rally, strategist warns
Publishing timestamp: 2023-11-03 05:17:53
Summary
The article warns that despite the current rally in stocks, there are reasons to be wary. The global head of macro and strategic asset allocation at Fidelity International, Salman Ahmed, does not trust the equity rally because the fundamentals around higher-for-longer interest rates have not changed. He believes there is a significant chance that the Federal Reserve will be pushed into another rate hike. Despite recent market performance, Ahmed believes that more problems lie ahead as higher rates start to impact the real economy.
Sentiment: NEGATIVE
Keywords: business news, markets, london, prices, stoxx 600, jerome powell, breaking news: markets,
Source: https://www.cnbc.com/2023/11/03/dont-trust-the-stock-rally-nothing-has-changed-strategist-says.html