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UBS Investment Bank's chief strategist, Bhanu Baweja, has indicated that the S&P 500 index could decline by another 8% to reach 5,300 points, attributing this potential drop to a 'visibly tiring' U.S. consumer. Baweja highlighted key risks such as weakening employment expectations and a concerning spending outlook. The warning comes amid broader concerns that diminishing consumer demand could pressure corporate profits, particularly affecting the consumer discretionary sector, which has seen a notable decline in stock performance recently. Analysts are increasingly worried about consumer spending on major purchases, including vehicles and appliances, as economic uncertainties persist.
"The S&P 500 basket of stocks for consumer discretionary companies has declined significantly in recent weeks, suggesting that investors are starting to worry about future consumer spending on big-ticket items such as cars, washing machines, and mobile phones." - Apollo Sløk https://t.co/BNX7MsZ5nP
UBS sees S&P 500 falling to 5,300 as consumer fatigue bites https://t.co/PAAhSYql0x
#UBS’ Baweja says S&P 500 could hit 5,300 due to ’visibly tiring’ U.S. consumer Bhanu Baweja, the chief strategist at UBS Investment Bank, said today that the S&P 500 could contract another 8% due to the "visibly tiring" U.S. consumer. According to Bloomberg, Baweja believes
