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HSBC strategist: More bullish on US stocks due to resilient earnings prospects
On September 10, Jin10 Data reported that given the labor market data showing that the economy is cooling rather than on the brink of recession, HSBC strategists said that considering the resilient third-quarter profit prospects, they are increasing their over-weighted position in US stocks. The team led by Max Kettner said that surpassing the third-quarter profit expectations of the US corporate sector "doesn't seem difficult", and that certain sentiment, position, and technical indicators are flashing contrarian buy signals in their report.