Brace for stock-market volatility to persist this year as investors get bombarded with economic data, UBS says

Wed, 04/12/2023 - 05:49

AP19226646517678 — Stock prices aren't going to make much sense the rest of this year with investors grappling with waves of confusing economic data, according to UBS.
Richard Drew/Associated Press

Stock prices for the rest of 2023, UBS's investment chief predicts.
Markets could "keep jumping from one narrative to another" as economic data rolls in, Mark Haefele said.
Investors are still struggling to make sense of the US labor market, he added.

It's going to remain tricky for investors to pick stocks for the rest of this year because markets are still hooked on unpredictable economic data, according to UBS.

The Swiss bank's CIO Mark Haefele expects the choppiness stocks seen in the early months of 2023 to continue, thanks to traders' fixation on the rate of inflation and unemployment.