The ongoing earnings season is expected to underwhelm investors, with businesses weighed down by high borrowing costs, deflated asset prices, and softening consumer demand due to decreased discretionary expenditure.
With the Federal Reserve unwilling and unlikely to risk complacency in its efforts to cool down an economy that bore the brunt of decades-high inflation for much of the previous year, investors should reshuffle their portfolios to dodge the potential volatility ahead.
Moreover, with the U.S. economy perilously close to defaulting on its stratospheric debt and China having its rare macroeconomic and demographic moment, the World Bank’s cut in the global economic growth outlook to 1.7% for 2023 from its earlier projection of 3% seems increasingly credible.
Since SPDR Gold Trust ETF (GLD) has gained 4.4% over the past year compared to the S&P 500’s decline of 8.9%, gold mining stocks Gold Fields Limited (GFI), Centamin plc (CELTF), and…
Continue reading at STOCKNEWS.com
