VTI - S&P 500: Recession To Hit Right Before The Election
2024-05-03 17:39:15 ET
Summary
- ISM Services for April shows contraction in the U.S. service sector, a key driver of the economy, while the U.S. economy added fewer jobs than expected.
- Based on this data, the U.S. economy is likely slipping into a recession in Q3 2024.
- Thus, S&P 500 is facing a recessionary bear market, which could be brutal as the mega-cap tech bubble burst.
An imminent recession
The labor market report for April showed that the U.S. economy added only 175K new jobs, which was well below the expectations of 245K. This data, on the surface, points to a slowing U.S. economy....
S&P 500: Recession To Hit Right Before The Election