Weaker jobs may limit Wall Street’s equities upside: JPMorgan

30/06/2025 Argaam
A slowdown in the US job market will weigh on US stocks, offsetting any positive impact from the Federal Reserve’s interest rate cuts, according to JPMorgan Chase & Co. (JPM) strategists.
 
In a note published Monday, the bank's strategists explained that the Federal Reserve may cut interest rates amid weak labor market data and rising inflation caused by the impact of tariffs.
 
“If labour market weakens, that would drive equities more than the prospect of Fed easing,” they said in the note.
 
They added that the Federal Reserve is expected to cut interest rates seven times in 2026, a scenario that would boost stock prices in the second half of 2025.
 
Moreover, there are already early signs that equity market players are beginning to consider this scenario, the note added.

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