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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: BWAC who wrote (49219)	9/12/2003 10:14:29 AM
From: aniela	Read Replies (1) of 53068

9:42am 09/12/03 J.P. Morgan ups U.S. GDP forecast for the rest of 2003 By Tomi Kilgore J.P.NEW YORK (CBS.MW) -- J.P. Morgan raised its forecast for real U.S. gross domestic product growth in the second half of the year to 5 percent from 4 percent, and reiterated its "overweight" stance on equities and "underweight" stance on bonds. The firm said the biggest change in growth momentum is occurring in capital expenditures, which should continue to benefit the industrials and materials sectors. "We still see 6 percent upside to U.S. equities for the remainder of the year, suggesting decent outperformance vis a vis bonds," the firm said in a note to equities. Strategist Abhijit Chakrabortti added that the continued weakness in the labor market was surprise, as companies still don't seem to be comfortable enough with cost structures despite the improvement in profitability to start hiring again.

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