Bank of America strategist: the leading position of technology stocks is rising, and the performance of US stocks is similar to the period of "Internet foam"
tengxiao
发表于 2024-2-4 09:33:28
3696
0
0
Recently, the dominant position of technology stocks in the US stock market has further strengthened. "At present, the market's optimism for technology stocks is like the Internet foam in 1999" - this is the latest view given by Bank of America strategists.
In the fourth quarter of last year, the decline in US Treasury yields pushed up the NASDAQ index, but in the past four weeks, the situation has changed, with both US Treasury yields and the Nasdaq index rising. Michael Hartnet, a strategist of Bank of America, and his team wrote in a report that such fluctuations usually only occur after the economic recession, such as the Internet foam in 2009 or 1999.
The strategist team pointed out that the general mentality is that although monetary policy is tightening, the economy is expected to continue to perform strongly.
Hartnett pointed out that in fact, investors are not too concerned about whether the Federal Reserve will cut interest rates in March or May, but rather about the trend of some key indicators. For example, before the inflation rate rebounds again, the market will assume that the Federal Reserve's decision is favorable for asset prices; Furthermore, if the unemployment rate rises, it may significantly alter the macro market environment.
Technology stocks lead the upward trend
Amidst multiple positive factors such as interest rate cuts, economic stability, and optimism towards artificial intelligence, the tech giants led the Nasdaq 100 index to a 54% surge last year.
Now, as investors continue to bet on large technology stocks, this upward trend will continue throughout 2024. In the latest financial reporting season, stronger than expected performance from Meta and Amazon may provide more momentum. On Friday US stock time, Meta's stock price surged by 20%, and Amazon's stock price also rose by nearly 8%.
In addition, nearly half of the increase in the S&P 500 index in January this year came from the contributions of the "Big Seven".
In line with Hartnett's view of the increasing dominance of technology stocks, earlier this week JPMorgan Chase's strategist Khuram Chaudhry issued a similar warning. Chaudhry believes that the US stock market is more and more similar to the Internet foam period.
Due to concerns that inflation will continue to exceed the Federal Reserve's target of 2%, Federal Reserve Chairman Powell dispelled market bets on a rate cut in March this week.
Hartnett also pointed out in the report that currently 75% of investors expect a soft landing for the US economy, while 20% of investors expect the economy not to land.
The scenario of "no landing" refers to the situation where despite a significant interest rate hike by the Federal Reserve, the economy maintains growth, the labor market is strong, and inflation is difficult to dissipate.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Gold breaks historical closing high! What did Huang Renxun, the CEO of Google, and other senior officials from the Biden administration discuss during their meeting with the general rise of large tech stocks?
- Bank of America's hot AI boom: just starting is equivalent to "1996 of the Internet"!
- Internet investment company Prosus clearance Ctrip shares, cashing out about 1.6 billion dollars
- Substantial progress of Internet breakthrough: Taobao has access to WeChat payment JD or Alipay
- US tech stocks continue to rise, Tesla rises nearly 4%
- The European Central Bank is expected to cut interest rates continuously, with Netflix leading the technology stock financial report
- The three major US stock indices collectively closed lower, while the Nasdaq fell more than 1%. Large tech stocks fell across the board
- Global markets: European and American stock markets close lower, Nasdaq falls more than 1%, large tech stocks all decline
- Legendary investors once again sounded the alarm: "AI foam" will eventually burst, and the US stock market is expected to collapse with it!
- US stocks close down: Nasdaq falls more than 2%, large tech stocks generally decline
-
苹果知名分析师郭明錤周四(10月31日)在社交媒体上发文表示,苹果明年可能会减少对芯片制造商博通Wi-Fi芯片的依赖,并推出自己的处理器。 郭明錤在社交媒体平台X上写道,“在2025年下半年的新产品(例如iPh ...
- uturn
- 昨天 14:42
- 支持
- 反对
- 回复
- 收藏
-
10月30日,小鹏汽车生态企业小鹏汇天宣布,旗下分体式飞行汽车“陆地航母”即将亮相2024中国航展,11月12日将在中国航展第二展区(斗门莲洲)进行全球首次公开飞行,同时“陆地航母”也将在珠海国际航展中心8号 ...
- yxtianyouyou
- 前天 11:43
- 支持
- 反对
- 回复
- 收藏
-
交易所监管文件显示,当地时间11月1日,亚马逊创始人杰夫·贝索斯拟出售约1635万股亚马逊股票,预计套现约30.5亿美元。今年7月,贝索斯已申请额外出售约2500万股亚马逊股票,按当时股价计算可套现约50亿美元。 ...
- blueskybb
- 11 小时前
- 支持
- 反对
- 回复
- 收藏
-
近日,凯撒海湾目的地(山东)运营管理有限责任公司(简称“凯撒海湾”)与携程旅悦集团签署战略合作协议,双方将围绕“海上目的地运营”、“旅游产品与服务创新”、“研学旅行”、“日韩及海外旅游市场开拓”等 ...
- llyyy2008
- 9 小时前
- 支持
- 反对
- 回复
- 收藏