Can stocks finish strong in 2023? Wall Street giants weigh in
- These concerns have carried into a tepid start to September, but Madison Faller, global investment strategist at JPMorgan Private Bank, said in a research note on Friday that 2023 can still finish strong.
- Goldman Sachs cut its U.S. recession probability to 15%, and Chief Global Equity Strategist Guy Opperman said this is "not a bad environment" for equities, though investors will need to be selective.
Traders on the floor of the NYSE, Aug. 15, 2023.
Stock markets are coming off a rough month, but strategists at some of Wall Street's biggest banks are cautiously optimistic that investors can find returns through the rest of the year and beyond.
Global stocks notched their second-worst month of the year in August, with the MSCI broad aggregate of world indexes dropping 2.96%, according to LSEG data.
Risk sentiment was hit by soaring bond yields on expectations that interest rates will need to stay higher for longer, along with growing concerns over the world's second-largest economy, China.