Markets (^DJI, ^IXIC, ^GSPC) are anticipating the Federal Reserve to start cutting interest rates in mid-September, with opinions divided between a 50 and 25 basis point reduction. PNC Asset Management Group CIO Amanda Agati joins Market Domination to discuss market outlooks ahead of the increasingly crucial August jobs report to be released Friday morning, which could influence the Fed’s decision.
Agati notes that data “naturally comes in very mixed” as markets approach a cutting cycle. She maintains that markets are “still very much in a soft landing camp,” and no data so far has indicated a need for a 50 basis point cut in September. Agati believes a 25 basis point cut will suffice to boost the economy.
Regarding stock markets and investing strategies amid market uncertainty, Agati tells Yahoo Finance:
“This market is priced to perfection, and so there are pockets of opportunity. We’re very much leaning into quality, on both the equity and fixed income side of the equation. Not everything has rallied to the extent of the Magnificent Seven, so there are pockets of opportunity. It’s not a market where you want to sit on the sidelines with a ton of cash here. But it is hard to make really big practical moves ahead of some of the key news items that I think are coming over the next few months.”
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