mspacmancocktailtable| Kolanovic, chief market strategist at JPMorgan Chase, said equity risk is not worth taking now

Marko Kolanovic, chief market strategist at JPMorgan Chase, says it is hard to justify buying stocks now because of high interest rates, weak growth and meagre potential returns.

"We don't think there are enough returns to prove the need to take stock risk at this time," Kolanovic told clients in a report on Monday.

The company reiterated thatMspacmancocktailtableA cautious view of small and medium-sized stocks, and pointed out that between now and before the next recession, small and medium-sized stocks-- like large-cap stocks-- are unlikely to outperform the returns of 20-year Treasuries.

Kolanovic said the market was returning to the narrative of a soft landing "prematurely"

"however, there is uncertainty about the macro outlook, and we are entering a seasonally difficult period of the year for the stock market, where inflation may remain too high, profit margins are under pressure and a combination of high positions is challenging."

Note: Kolanovic's view of the US stock market has not been realized for the third year in a row. The S & P 500 is up 9% in 2024, althoughMspacmancocktailtableHe predicted that it would fall. The strategist was pessimistic during the stock market rally last year and bullish for most of the stock market crash in 2022.