COM - Economy can withstand $150 oil JPMorgan's Kolanovic says: At the Open

The recent spike in energy prices and interest rates shouldn't deter investors from buying most of the equity dips, J.P. Morgan's global markets strategy team says. S&P futures (SPX) (NYSEARCA:SPY) are pointing to a higher open this morning following a turnaround yesterday afternoon. Strategist Marko Kolanovic has consistently called for investors to stay invested and recently advised investors buy the dip on the Evergrande selling. And he says even with energy and supply chain issues, there's no reason now to change the advice to rotate equity exposure into cyclicals. "We believe the recent pullback is an opportunity to buy the dip on cyclical assets - which would include all equities (EM and DM) apart from high-multiple growth sectors (e.g. Nasdaq 100 (NASDAQ:QQQ))," he writes in a note. "The reason for this is our view on intensifying energy issues, rising inflation and bond yields, and still extreme overweights in growth and

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Economy can withstand $150 oil, JPMorgan's Kolanovic says: At the Open