Analisis Forex & Kajian: 17.07.2023 - Economists revise global...

17.07.2023 03:09 PM

Economists revise global growth forecasts due to China

Economists revise their forecasts for global economic growth due to China's disappointing economic performance. They are lowering their predictions for next year, citing significant shortcomings in economic recovery and Beijing's restrained response to stimulus measures.

JPMorgan Chase & Co., Morgan Stanley, and Citigroup's economists were among those who gave a negative assessment of the situation. On Monday, official data released by Beijing authorities showed that the economy lost momentum in the second quarter, with a noticeable decline in consumer spending in June and a contraction in real estate investments.

Citigroup Inc. economists believe that GDP growth this year will be 5% instead of 5.5%. Beijing's official target, set in March at around 5%, is now under threat. JPMorgan Chase & Co. shares a similar opinion.

"The new projection takes into account 'more realistic' policy support over the coming months," JPMorgan Chase & Co. noted. The bank said while a meeting of the Communist Party's Politburo later this month would provide clues about policy thinking, there were risks that policy could "fall behind the curve or short of expectations."

Morgan Stanley also lowered its estimate to 5% from 5.7%. United Overseas Bank Ltd., Capital Economics Ltd., and Societe Generale SA also reduced their forecasts. The absence of a significant stimulus package, which was eagerly awaited in recent months, became the main reason for revising the forecasts.

Premarket

Shares of video game producer Activision Blizzard rose by 4% after Microsoft and Sony signed an agreement to keep Call of Duty on Sony PlayStation gaming consoles following Microsoft's acquisition of Activision Blizzard.

Chewy stocks jumped by more than 5% after Goldman Sachs upgraded their rating to "buy" from "neutral." The firm stated that the e-commerce pet goods company has an attractive risk and reward profile and can increase its margin.

PepsiCo, the beverage giant, saw a 1.2% drop in shares after Morgan Stanley downgraded its rating from "buy" to "hold." According to Morgan Stanley, Pepsi's strong earnings report and growth potential are now priced into the shares, leading to limited growth potential.

Tesla, the electric vehicle manufacturer, saw an almost 2% increase in pre-market trading.

AT&T shares fell by 1.5% after Citi downgraded its rating from "buy" to "neutral."

As for the S&P 500 index, demand for the trading instrument remains. Bulls have a chance to continue the uptrend, but they need to push the price above $4,515. From this level, there could be a surge to $4,539. Another important task for bulls will be to maintain control over $4,589, which may strengthen the bull market. In case of a downward movement due to a decrease in risk appetite, bulls will have to protect the level of $4,488. Breaking through this level, the trading instrument may return to $4,469 and $4,447.

Anda telah pun menyukai siaran hari ini

* Analisis pasaran yang disiarkan di sini adalah bertujuan untuk meningkatkan kesedaran anda, tetapi tidak untuk memberi arahan untuk membuat perdagangan.

Jika anda mempunyai sebarang soalan berkaitan kandungan, sila hubungi editorial-board@instaforex.com

Stock Markets

Jakub Novak,
Pakar analisis InstaForex
© 2007-2025

Lebih banyak artikel daripada pengarang ini

Langganan E-mel

EURUSD

Euro vs US Dollar

Pilih carta masa

min

jam

hari

minggu

Mulakan dagangan

Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.

Muat turun MetaTrader 4 dan buka dagangan pertama anda.

Artikel yang dicadangkan

Kemas kini pasaran saham AS pada 27 Jun. SP500 dan NASDAQ mencapai paras tertinggi baharu

Saham Nvidia Cecah Paras Tertinggi Sepanjang Masa

Pasaran Saham Sedang Menghampiri Paras Berbahaya

Kemas Kini Pasaran Saham AS pada 25 Jun: Indeks Utama Saham Meningkat dengan Keyakinan

Pasaran saham AS dalam aliran menaik apabila gencatan senjata diumumkan antara Israel dan Iran

Kemas Kini Indeks Saham AS pada 24 Jun: SP500 dan NASDAQ Melonjak Berikutan Berita Positif

Ramalan S&P 500 untuk 24 Jun 2025

Kemaskini Pasaran Saham AS pada 23 Jun: Indeks Saham AS Ditutup Bercampur, Harga Minyak Meningkat di Tengah Ketegangan Geopolitik

Aliran Menaik di Pasaran Saham AS Bakal Menjunam. Adakah Pasaran Mampu Mengekalkan Momentum Kenaikan Sehingga Akhir Musim Panas?

Kemas kini pasaran saham AS pada 20 Jun. SP500 dan NASDAQ dibuka dengan keuntungan

Analisis terbaik