Is the "Santa Claus rally" approaching? Wall Street institutions including Goldman Sachs are optimistic about a year-end rebound in US stocks, but inflation pressure is likely to erupt in Q1 next year.
18 minutes ago
Goldman Sachs, Morgan Stanley, and JPMorgan Chase have successively signaled a year-end rebound in US stocks, noting that recent sharp sell-offs, valuation corrections, and concentrated deleveraging by hedge funds have set the stage for a market short squeeze. Goldman Sachs pointed out that market positions have been largely cleared, global stock valuations have returned to near their 35-year historical average, selling pressure is nearly exhausted, and a "Santa Claus rally" may arrive at year-end. Morgan Stanley data shows that hedge funds' net positions in the AI sector have recently turned underweight for the first time since 2023; JPMorgan, for its part, advises investors to buy on dips. However, Goldman Sachs warned that the six-month annualized growth rate of global manufacturing import price inflation has reached around 24%, exceeding the inflation peak during the pandemic, while the annualized increase in global producer prices has also hit roughly 11%. As the pass-through of upstream costs to consumers typically takes 6 to 12 months, inflationary pressures may materialize sharply in the first quarter of next year, forcing the Federal Reserve to maintain its tight policy stance. Goldman Sachs argues that if the year-end rebound leads to a re-easing of financial conditions, it could instead weaken the Fed’s case for holding policy steady, and even exhaust future upside potential. Its strategists warn that investors need to guard against a market correction following the year-end rally.
A new address has withdrawn a total of approximately $2 million worth of ETH from Gate in the past hour.
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A whale spent 1.5 million USDT to buy 786.16 ETH and transferred the tokens to a new address.
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This week, the three major U.S. stock indices rose, while NVIDIA recorded a 13% weekly decline, with its market capitalization plunging by over $573 billion.
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Over 58,000 people have signed a petition urging NVIDIA’s board of directors to bring back Jensen Huang, with Elon Musk, Tom Lee and others supporting the call.
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