Bloomberg Asks Experts If a Recession Is Near. Here’s Their Answer.

Bloomberg spoke to financial experts about the possibility of a recession in the near future, and their general reaction was … nahhhh.

John Stoltzfus, chief investment strategist at Oppenheimer Asset Management, “There’s another story out there that’s gathering the attention of investors. The fundamentals remain intact in the sense of the U.S. economy, which continues to show us sustainability. The slowing does not appear to us to be recessionary.”

Michael Antonelli, institutional equity sales trader and managing director at Robert W. Baird & Co. explained, “If you think about the last month of market action, it was dominated by trade headlines, but in the background was pretty stable economic data absent of manufacturing. All the noise is masking that the economy, by and large, is doing OK.”

Dennis DeBusschere, head of portfolio strategy at Evercore ISI, added that if the manufacturing sector doesn’t plunge downward any more, “which seems like a much higher-probability event than many expect, an extended reversal of the safety panic should be expected.”

Kate Warne, an investment strategist at Edward Jones shares: “The earnings outlook is actually one of the things that is positive for stocks going forward. Expectations are a little higher for next year and I think that’s appropriate because we begin to get into a period where companies aren’t facing such strong comparisons from the previous year.” She added, “Companies are continuing to see good demand for their products even though they’re also facing rising costs.” (Read more from “Bloomberg Asks Experts If a Recession Is Near. Here’s Their Answer.” HERE)

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