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Stock impact report

Buckle up for a bumpy ride in the stock market, BMO Wealth Management's CIO says. And he's not the only one sounding the alarm [Fortune]

Automatic Data Processing, Inc. (ADP) 
Last automatic data processing, inc. earnings: 4/29 06:56 am Check Earnings Report
US:NASDAQ Investor Relations: investors.adp.com
Company Research Source: Fortune
The stock market has surged more than 10% this year largely on the prospect of lower borrowing costs—along with a little boost from the hype surrounding AI. But Yung-Yu Ma, BMO Wealth Management's chief investment officer, warned Wednesday that investors should expect some turbulence ahead—and he wasn't the only one sounding the alarm. “The narrative of falling inflation and imminent Fed rate cuts that drove the stock market's first quarter gains is wobbling in the second quarter,” Ma wrote in emailed comments to Fortune The veteran CIO said investors are worried about “delayed Federal Reserve rate cuts” that could push long-term bond yields higher, pulling more cash away from equity markets. As Gargi Chaudhuri, BlackRock's chief investment and portfolio strategist, Americas, wrote in his 2024 outlook, “a cautious Fed, stronger growth, normalizing inflation, and a strong labor market may reward investors for owning bonds.” Ma said oil's rise is one of the factors that will conti Show less Read more
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