Market Strategist Sees Recession Risks as Consumers Deplete Savings and Labor Market Weakens
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U.S. consumers are running out of excess savings and facing financial pressure, according to market strategist Chris Watling.
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Watling argues recent strong retail sales growth is not sustainable as households have depleted savings.
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Watling sees cracks in the labor market, with indicators like jobless claims rising and momentum slowing.
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Watling believes the US stock market is overvalued and due for a correction in coming months.
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Watling predicts a US recession may be kicked off by continued pressure on consumers and the labor market.