Is a Recession in the Cards in 2024? | Editor’s Note: On Tuesday, December 12, at 7 p.m. Eastern time, Louis Navellier, Eric Fry and Luke Lango are gathering for a special event – the Early Warning Summit 2024– to give you their investing game plan for 2024. It’s a strategy that could outperform the market by 5X or more next year, no matter what happens. Sign up and reserve your spot for the event here.
In preparation for that event, we recently recorded a few videos where we ask Louis, Luke and Eric for their honest opinions on some of the most heated topics in today’s investing world. And over the next few days, InvestorPlace Editor in Chief Luis Hernandez is bringing those videos to you. Take it away, Luis. | | | We’re living in wild times.
On the one hand, stocks have gone on an incredible run this year – staging their best first half of the year in over four years.
Inflation is also cooling off. In fact, the Consumer Price Index (CPI) report for October was phenomenal. Headline inflation was flat in October and up 3.2% in the past 12 months.
The Producer Price Index (PPI) reading for October was also positive. It showed that wholesale inflation declined 0.5% in October and is up 1.3% in the past 12 months.
And the Federal Reserve’s favorite inflation indicator – the Personal Consumption Expenditures (PCE) index – rose at a 3% annual pace in October. That’s down from 3.4% in September.
That’s all great news. On the other hand, there’s signs of stress in the markets and the economy: - U.S. corporate bankruptcy filings hit a 12-year high this year.
- The number of corporations defaulting on their debt is accelerating.
- High interest rates and elevated inflation still worry millions of Americans and business leaders.
This is why many smart folks out there are predicting a recession.
In fact, in a recent survey, 84% of CEOs polled say they think a recession will happen in the next 12 months. Nearly 50% of Wall Street thinks a recession is inevitable, and 69% of American consumers are predicting a recession in 2024.
Throw in the conflict in the Middle East and the ongoing dispute between Russia and Ukraine, and it’s easy to see why mass confusion and uncertainty have dominated the markets lately. So, I was very glad to have a video call with Eric Fry and hear his thoughts on the matter. Click here or the play button below to find out what he has to say. Not only does he share his economic outlook for 2024, but he also reveals the sector he’s most bullish on.
 And don’t forget… On Tuesday, December 12, at 7 p.m. Eastern time, Eric is joining Louis and Luke for the Early Warning Summit 2024. That’s where they will give us their investing game plan for 2024… and share three FREE stock recommendations.
You can register for the event here.
Until next time…
Regards, |
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