Jason English, the lead equity analyst covering the packaged food, household and personal care sectors, said the Global Investment Research Team is optimistic about 2023. Right now there is a downturn in the economy, but the rate of decline will slow next year and will again turn positive, he said.
One sticking point is inflation, which is hurting wage growth, he added. Besides that, there are a few other measures of economic health raising warning flags, the panelists said.
Growth stocks sold off sharply last fall, and it is not clear that the trend has ended. “There is definitely no ‘all clear’ sign from tech so far,” Sheridan said. “Investors are still looking for safer growth.”