A stronger-than-expected payrolls number would likely give investors greater confidence that growth risks have subsided, bolstering stocks outside technology that have lagged.
Wilson reiterated his preference for defensive stocks, urging caution against small-cap stocks or other cheap cyclicals that have underperformed due to ongoing growth deceleration.
Weaker-than-expected data alongside a rising unemployment rate would pressure equity valuations like last month, confirming the fragility of the market's current recovery.
Wilson's prediction of a stock-market slide last year did not materialize, highlighting the unpredictability of market movements amid external factors.
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