A 28-year market vet breaks down why the risk of a recession is ‘higher than thought’ — and warns 73 years of market history shows stocks are likely in for a terrible year

• Lance Roberts, CIO of RIA Advisors, warns the labor market is weaker than headline numbers show.
• He said the sharp drop in full-time employees in December is a recession alarm bell.
• The market’s negative returns in the first five trading days of 2024 foretell poor returns, he said.

The US labor market is starting to show signs of weakness, and a recession could be closer than the market consensus has been pricing in, says RIA Advisors CIO Lance Roberts.