China's growth slowdown looms over the U.S. economy after one of the nation's largest property developers — Country Garden (2007.HK) — hit a record low in its stock price. Morningstar Chief U.S. Market Strategist David Sekera outlines how much influence China's economic narrative may actually have on the United States' GDP expectations.
"We're looking for 1% GDP growth in the third quarter. Our base case is tight monetary policy [and] decreasing lending will take their toll on the economy, however we expect inflation to continue to moderate," Sekera tells Yahoo Finance Live.
Following headlines of U.S. Steel (X) rejecting Cleveland-Cliffs' (CLF) proposed buyout, Sekere details his positive outlook for the M&A space — citing consolidation as a key catalyst for markets and stocks — while offering his forecast for retail brand Estée Lauder (EL).
