Markets Climb Wall of Worry as Risks Loom Over Economy
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Bull markets tend to climb a "wall of worry", with current worries including wars, the presidential race, and Fed rate cut delays.
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Shipping disruptions have potential to keep food and energy prices high, while EU agricultural reforms could hurt farmers and boost far-right parties.
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Risks of expanded Ukraine-Russia conflict as anniversary of war approaches; recent Ukrainian attacks on Russian infrastructure.
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Fed Chair Powell hints rate cuts could come by mid-year, but more inflation data needed before deciding on cuts.
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Deflation spreading globally while US consumer confidence and exports remain strong, setting stage for economic gains in 2024.