Closing Bell Overtime: Stocks Sink in Final Hour of Trade 2/16/23
Closing Bell
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Risk Assets Are Rallying, but You Can't Have Your Cake and Eat It Too
JP Morgan Asset Management's Pandit says the U.S. economy is headed towards a recession. "You're looking for a pullback even more than what we got today of what magnitude," he says. The stock market is reacting to very strong economic data, overshoot on jobs, CPI, PPI,. retail sales, industrial production. But this is probably the overheat before the retreat in the economy.
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