Stocks Seen as Undervalued Amid Mixed Earnings and Economic Outlook
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Current market valuation is undervalued compared to historical levels, presenting opportunities. Utilities and real estate sectors appear particularly undervalued.
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Earnings from mega-cap tech stocks were mixed but generally positive. Apple yet to report.
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Economic growth was strong in Q3 but expected to decelerate through 2024 before rebounding. Tight monetary policy taking a toll.
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Interest rates have risen substantially but may peak soon. We forecast declines in 2024 as Fed eases policy.
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Geopolitical risks worsening, casting negative sentiment. Conflict between Israel and Hamas bears watching.