Despite the market’s significant recovery in 2023, there is one problem that continues to temper optimistic sentiment: the possibility of an impending recession still exists. Elyse Ausenbaugh, global investment strategist at J.P. Morgan Wealth Management, believes that investors have good cause to be optimistic.
Starting with the economy, according to Ausenbaugh, “there are actually a lot of things for investors to feel pretty good about right now.” The economy has remained much more resilient than many people had anticipated going into this year, despite increased interest rates.
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Whether a recession occurs or not, Ausenbaugh again emphasises that the stock market “is not the economy,” but she also thinks the bottom has already been reached. “We do not think that stocks are going to revisit the lows that we saw back in October,” Ausenbaugh added.
While a recession is still a possibility, the markets have been gradually improving, and according to Ausenbaugh, investors should be upbeat about the second half of 2023.
The stock analysts at JPM are directing investors towards the companies that are anticipated to perform well in the coming year in light of that optimistic view; they identify two particular stocks as potential winners, with one boasting an upside of 90%. The tickers each received a “Strong Buy” consensus rating after being run through TipRanks’ database, demonstrating that the rest of the Street is in agreement.
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