U.S. Economy Showing Resilience Despite Some Cooling; Rate Cuts Expected in 2024 to Reinvigorate Growth
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U.S. labor market remains resilient though showing some signs of cooling; job openings declined in October but unemployment rate fell in November.
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Consumer sentiment climbed in December with expectations of lower inflation ahead.
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Traders expect Fed to keep rates unchanged in December; 45% expect first rate cut in March 2024 FOMC meeting.
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Despite monetary tightening, U.S. economic fundamentals remain strong; relaxation expected to reinvigorate economy in 2024.
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Gartner (IT), Intel (INTC), Royal Caribbean (RCL), Progressive (PGR), and Emerson Electric (EMR) have potential for 2024 with positive earnings revisions.