Even if oil hits $150 a barrel, J.P. Morgan’s Kolanovic predicts stocks will reclaim 2022 highs
$JPMorgan(JPM.US$’s Marko Kolanovic predicts oil is surging higher — but so are stocks.
Kolanovic, who serves as the firm’s chief global markets strategist and co-head of global research, believes the U.S. economy is strong enough to handle oil prices as high as $150 a barrel.
"There could be some potential further spikes in oil, especially given... the situation in Europe and the war. So, we wouldn't be surprised," he said. "But it could be a short-lived spike and eventually, sort of, normalize."
WTI crude is trading around three month highs, settling up 0.77% to $119.41 a barrel on Tuesday. Brent crude closed at the $120.57 mark. The bullish move came as Shanghai reopened from a two month Covid-19 lockdown, opening the door for higher demand and more upside.
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MonkeyGee : how many accuracy star does this guy have?
RDK79 MonkeyGee: Accuracy metrics for analysts seems to be a trade secret
MonkeyGee : u can see some in tipranks.com. most analysis are a joke
romantic Lark_3756 :
