Page 12 - Nalyst Note News Today

"The market remains overvalued. While valuations are not good short-term indicators, in the long run, value matters," Ned Davis said.

"Mortgage holders who refinanced around 3% and are investing in money market funds at 5% or more have positive carry and are acting like a bank."

"We use the macro and Fed worries as a time to double down on our bullish tech thesis... and NOT panic," Wedbush analyst Dan Ives said.

"After [Tuesday's] emotional trading we think we are one step closer to a short-term low," Fairlead Strategies' Katie Stockton said.

"We predict that S&P 500 operating earnings per share will be at a record high during the final quarter of this year," Ed Yardeni said.

"The Fed just told us the economy is still too hot to stop hiking, bad news for bonds but good news for cyclicals and stocks," Bank of America said.

"The current change in interest rates is about 5 times larger than the 2002-2008 increase," JPMorgan's Marko Kolanovic warned.

The US economy is entering an inflection point in the upcoming fourth quarter as a number of risks converge at the same time.

Higher oil prices could be offset by a decline in electric utility bills during the fall months, assuming normal weather, Goldman Sachs said.

"October has its share of big down days, but these down days often provide an opportunity for dip buyers ahead of better seasonality," BofA said.