(This is CNBC Pro’s live coverage of Thursday’s investor discussion of market volatility.) On Thursday, investors will try to find their footing again as they look for signs that the economy is not deteriorating as quickly as feared just days ago. Wall Street got some good news on that front after new jobless claims showed some resilience in the labor market. Investors expect consumers to take more of the spotlight the rest of the year after a disappointing July jobs report served as one of the catalysts for the latest sell-off. Stocks have fallen in four of the past five sessions. The major stock indexes ended lower on Wednesday – failing to hold on to early gains. Volatility is likely to continue into September, when the Fed makes its next interest rate decision. The market expects an interest rate cut of half a percentage point at this meeting. Follow the latest market discussions and reactions. All times are Eastern Time. 10:47 a.m.: JPMorgan warns stocks remain at risk JPMorgan strategist Dubravko Lakos-Bujas said market pressures won’t ease for the time being. “While the recent market rally has removed some of the froth, there are still risks to equity positioning and valuations, especially if economic growth continues to decelerate and the Fed does not show a sense of urgency,” Dubravko said in a note. Our internal view (JPMorgan Economics) expects the FOMC to cut rates by 50 basis points at the September and November meetings, followed by 25 basis points at each subsequent meeting. Historically, the start of an FOMC easing cycle has been associated with risks. The negative performance for the asset comes at the same time. His comments came as the stock market tried to regain its footing for the second day in a row, with the Dow Jones rising more than 500 points, but it ended the day lower. , and in the long term, Lacos-Bujas expects stocks to rise. “We believe the current rotation into stocks is more consistent with an in-cycle easing rather than the full onset of a late-cycle momentum washout,” he said. ” — Fred Imbert 10:02 AM: TS Lombard says correction has been ‘contained’ TS Lombard says the market’s recent setback is a good time for long-term investors. “We expect markets to recoup recent losses in the coming weeks as economic data has not yet deteriorated enough to trigger a serious crisis,” analyst Andrea Cicione wrote in a note Thursday. The extent of the recession debate “Our soft landing view advocates a limited correction. Cicione recommends holding long positions in equally weighted S&P 500 and high-yield corporate bonds, which he says are now at a more attractive entry point. The analyst said the recent sell-off was a “healthy” one Adjustment indicates a good buying opportunity. He noted that bouts of volatility show that stocks tend to rebound relatively quickly after a spike in the Chicago Board Options Exchange Volatility Index, with the median trajectory showing broad market indexes recouping losses within two to three months. “To be clear, the S&P 500 averages more than three corrections per year, and the current market rout is not something the Fed or investors should be unduly concerned about,” he said. — Pia Singh 9:57 a.m.: Pivotal’s McGhee , portfolios should include defensive stocks Pivotal Advisors CEO Tiffany McGhee said Thursday that all portfolios should include defensive positions. “It’s very exciting to be able to buy into these large-cap growth stocks… they’ve been driving the performance of the market for a long time,” she told CNBC’s “Global Exchange.” “But having a balanced portfolio does It’s important.” McGhee recommends the Consumer Staples Select Sector SPDR Fund (XLP), which includes companies like Walmart, Procter & Gamble, and Coca-Cola. The fund is up nearly 9% in 2024. — Alex Harring 9:07 AM: Evercore ISI: Market sell-off a ‘correction to buy in bull market’ amid strong earnings Evercore ISI says concerns about recent market sell-off are overblown, especially with half-century current political, social and economic challenges. Analyst Julian Emanuel said: “With the VIX rising to 65 on Monday, it reinforces our view that this sell-off is a buyable correction in a bull market, not a bull market. Emanuel said that despite some signs of slowdown in the U.S. economy, earnings grew by more than 11% in the second quarter and earnings are expected to remain relatively stable in 2024 and 2025, which is a good sign for the upcoming presidential election. Said it was a “good sign”. — Pia Singh 9:07 a.m.: UBS says now is the time to build quality tech stocks Solita Marcelli, chief investment officer for the Americas at UBS Global Wealth Management, says the market selloff has uncovered opportunities in quality tech stocks, particularly in the global internet and semiconductor companies. She pointed out that as artificial intelligence spending remains flexible, profits from global technology stocks will increase by 20% to 25% year-on-year in the second quarter. Marcelli said she prefers high-quality companies with strong balance sheets, profitable growth, and beneficiaries of artificial intelligence. China’s big tech companies can also offer investors defensive characteristics, she noted. — Sarah Min 9:07 AM: Peter Kraus Buy the dip now: ‘If you get a 10% discount, take it’ Peter Kraus, chairman and CEO of Aperture Investors (Peter Kraus) said that he has started buying dips this week, and he believes that it is difficult for investors to determine the timing of the market bottom. “You know my point. Long-term investing is critical. If you get a 10% discount, take it,” Krause said Thursday on CNBC’s “Squawk Box.” “Let’s say it’s down 20%. Yes, you’d be wiser to buy a stock that’s down 20%, but you’re buying a stock that’s down 10%.” “It’s still a good trade,” he added. —Sarah Min
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