Source: Golden Ten Data
Author: Wu Yu
J.P. Morgan expects that some companies that have benefited from rising prices in the past will face the biggest blow, while the return of the supercycle is expected to boost energy stocks. Next, investors may also find trading opportunities in the Chinese stock market...
Marko Kolanovic (Marko Kolanovic), chief market strategist at J.P. Morgan Chase, warned in a report to clients on MondayRetailers, car manufacturers, and airlinesAfter other industries have enjoyed the benefits brought by price increases in the past two years,Next, it will be hit hardest by the cooling of inflation.
Kolanovic said, “Overall, we think the balance between growth and policy will still face challenges until the end of the year.” He at the same timeWarnings about the impact of delays in interest rate hikes have been reiterated.
The US stock market ended four consecutive days of decline on Monday, getting rid of the worst weekly sell-off since March.$S&P 500 Index (.SPX.US)$Up 0.4%. However, US stocks have been unstable since August as investors consider the impact of continued high interest rates on the economy.
Although Kolanovic has generally maintained a defensive stance on the stock market, J.P. MorganRaise the view on global energy stocks to “increase holdings”The reason is that oil prices are at risk of rising in both the near and long term.
Last week, the bank said oil prices could rise to a high of $150 per barrel as the energy supercycle returns, and urged investors to buy energy stocks.
J.P. Morgan has selected 13 “major global stocks worth holding” for investors and named them “Supercycle Clubs.” Recommended companies include$Exxon Mobil (XOM.US)$,$Marathon Oil (MRO.US)$,$Baker Hughes (BKR.US)$as well as a Canadian oil sands producer$Cenovus Energy Inc (CVE.CA)$... Globally, the bank also recommends buying$TotalEnergies (TTE.US)$, Saudi Aramco,$PETROCHINA (00857.HK)$/$PetroChina (PTRCY.US)$and Australia$Beach Energy Ltd (BPT.AU)$...
“We are once again optimistic about the global energy complex,” Kolanovic wrote in Monday's weekly report. He acknowledged that it has been difficult for energy stocks to keep up with soaring crude oil prices, and that the latter's performance is clearly far ahead. However, this situation is likely to change as higher oil prices attract more investors to buy energy stocks.
Also, Kolanovic changed his bearish stance on global stock markets. He said that as global policy tightening stimulates long-term interest from overseas investors,The Japanese stock market is likely to outperform other major markets.
At the same time, the strategist also said,Chinese stocks are now nearing the “buying zone.”
Investors may find trading opportunities in the Chinese stock market in the future. China will release a series of economic data for October next month, including travel and retail sales data during Golden Week, as well as data on real estate transactions. J.P. Morgan's bullish forecast is also based on the expectation that more new stimulus measures will be introduced.
editor/tolk