Bank of America: The stock market may face profit-taking after the Jackson Hole meeting

ChainCatcher news, according to Jinshi reports, U.S. bank strategists pointed out that the record rebound in the U.S. stock market makes it an excellent opportunity for the Federal Reserve to take profits when signaling a dovish stance at the Jackson Hole meeting. The team led by Michael Hartnett stated that investors are flocking to risk assets, optimistic that the Federal Reserve will lower interest rates to support the weak labor market. Hartnett warned that the stock market could form a bubble, believing that gold, commodities, cryptocurrencies, and emerging market assets will be the biggest winners.