18-10-2018 14:40
Bank JPMorgan: Donald Trump might be seriously wrong
The US President’s baseless ideas of the American economy’s super power may lead to the unfortunate results, experts of the major bank JPMorgan Chase believe. Bank specialists have foreseen the probability of such an outcome while working on a long-term outlook for the US economy.
JPMorgan Chase analysts changed the previous estimate of the American economy’s development in their recent report and factored in the possibility of a kind of "miscalculation" by the President of the United States. Trump might make a mistake and take the wrong decision due to excessive self-confidence, experts of the financial holding think.
Furthermore, the experts took into account the increasing potential of the ongoing US-China trade war which has affected all Chinese imports. According to JPMorgan Chase, this may lead to the Chinese economy’s growth weakening and have a negative impact on the global commodity trading in 2019.
The bank revised its estimate for the growth in earnings per share of the S&P 500 companies. The index dropped from the current 10% to 5% in 2019. Analysts also adjusted the oil price outlook by assuming Brent crude to rise up to $90 per barrel due to the upcoming introduction of the US sanctions against Iran, scheduled for November 2018.
According to another report, published by JPMorgan Chase this month, a new financial crisis may break out in 2020 but it will be less devastating than the crisis of 2008. Crashes on stock markets during the next crisis should not be so large-scale, as the assets value in developing countries has declined significantly, JPMorgan Chase emphasized.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Published 18 October 2018
© InstaFintech Group
© InstaFintech Group
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