JPMorgan Abruptly Shifts Stance on US Stocks Amid Hawkish Fed Outlook

JPMorgan Chase & Co.'s trading desk has downgraded its optimistic outlook on US equities to neutral and cautious after hawkish comments from Federal Reserve Chairman Kevin Warsh.

The shift comes ahead of the central bank's upcoming policy decision, with investors now pricing in a higher probability of interest-rate hikes before the end of the year.

JPMorgan's U.S. market intelligence team forecast sideways market movement in the coming weeks due to short-term pressures and uncertainties surrounding monetary policy.