Stocks are sitting near all-time highs and the U.S. economy is chugging along again. This could be as good as it gets on Wall Street.
Amanda Agati, chief investment officer at PNC Financial Services Group, says the signs point to “peak growth” right now.
“We’re seeing it in a number of economic indicators that we continue to track,” Agati told CNBC’s “Trading Nation” on Friday.
She lists four reasons why. The first, inflation — producer prices in August rose by 8.3% on a year-over-year basis, a record annual increase. Agati says this red-hot pace will likely prove transitory, but rising prices are here to stay.
Agati also points to economic data such as GDP growth and manufacturing numbers that could be revised lower; sentiment indicators such as the University of Michigan consumer sentiment index, which has not returned to pre-pandemic levels; and earnings growth estimates that may also be rerated.
“When we look at all of these…