Why the stock market could slow down in late 2024
Wall Street is bracing for June's Consumer Price Index (CPI) report this week, which will serve as a key economic indicator amid the Federal Reserve's battle with inflation. Truist co-chief investment officer and chief market strategist Keith Lerner joins Morning Brief to discuss the potential for interest rate cuts this year and how that will play into the market.
Lerner believes the Fed will cut rates in September and that there will be one to two rate cuts by the end of 2024. "What we're starting to see is a slow but global easing cycle. You put that together with profits that are still moving forward, [and] we still think that's a positive environment for stocks. But again, probably not at the same pace that we saw in the first half," he explains.
Despite the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) having been pushed to record highs in 2024, Lerner has recently walked back his bullish calls on the tech sector. He says, "Our main message to our clients was, listen, we still like tech. We don't think this is a bubble longer term, but on a short-term basis, we're getting a little bit overheated, a bit stressed, and we just think there will be a better opportunity to redeploy capital there in a more meaningful way." He adds that there may be some rotation in the market later this year as tech begins to slow.
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Пікірлер: 38
I've recently started learning about value investing, and I've discovered that many high-quality stocks are undervalued despite their intrinsic worth. If you had $200,000 to build a robust investment portfolio, which stocks would you choose?
@Brightenedrim
14 күн бұрын
I think a good investment portfolio should have three basic things: ETFs for diversification, dividend stocks for cash flow, and leading tech stocks. With your budget, it's a good idea to talk to a fiduciary financial advisor for expert advice.
@Cottoncandyh
14 күн бұрын
I agree with you. As an early investor in NVDA, AVGO, ANSS, and LRCX, my financial advisor's advice was incredibly helpful. Over the past 7 years, she has helped me find stocks that did 10x multiple times. With her help, I've grown my portfolio to over a million dollars.
@Frankweily
14 күн бұрын
I'm glad I found this conversation. I have cash to invest but am worried about picking the wrong stocks. Can you refer me to your financial advisor?
@Cottoncandyh
14 күн бұрын
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with "Melissa Elise Robinson" for years and highly recommend her. Look her up to see if she meets your criteria.
@Frankweily
14 күн бұрын
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
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