Fate stock7/13/2023 “One side of the market is very sunny, while the other is crying for help. See: How Fed’s Powell could spoil stock-market’s 2023 rally, according to Morgan Stanley’s Mike Wilson This spread has been cited by other equity analysts, including Morgan Stanley’s Mike Wilson, who warned in a recent note that Wednesday’s Federal Reserve announcement could pose a risk to the stock-market rally. The S&P 500 equal-weighted index is up just over 3% since the start of the year, roughly a third the gain in the S&P 500, whose components are weighted by market capitalization. stocks are sending mixed signals to investors, as Paul Nolte, senior wealth manager and market strategist at Murphy & Sylvest Wealth Management, said in a recent research note where he compared the S&P 500 to the equal-weighted version of the large-cap benchmark. Others, including a team at JPMorgan Chase & Co., have argued that investors should consider reducing their exposure to stocks. “This is the most hated 7-month, 20% rally ever,” Lee said in a note to clients. He sees the S&P 500 finishing 2023 at the 4,750 level, what would be a 14% gain from Monday’s level. While many on Wall Street have soured on them, Fundstrat’s Tom Lee said in a recent note to clients that he expects information-technology sector stocks - a sector that includes some, but not all, of the megacap FAANG names - to continue driving markets higher this year. Still, these megacap stocks have powered ahead in recent weeks. Many on Wall Street have cited the lack of broad participation in the market’s rebound rally as a potential risk. It wasn’t so long ago that the shoe was on the other foot: the megacap tech names led last year’s selloff, with Meta falling more than 60%, according to FactSet. Has risen nearly 9% since the start of the year. Technically, an equity index is said to exit a bear market once it has risen more than 20% from its latest lows, though a 2022 exit from a bear market proved to be a head fake. 28, 2022, according to Dow Jones Market Data while outpacing the S&P 500 indexby a wide margin, analysts said. Is currently trading at 12,233, up just shy of 20% from its recent low set on Dec. Thanks to FAANG stocks, the Nasdaq Composite Meta has rallied 100% so far this year, while Nvidia has jumped 98%. have driven much of the broader market’s gains year-to-date. Strong performance by the so-called “FAANG” stocks - a group of megacap, tech-related shares that includes Meta Platforms Inc. See: Wall Street expects S&P 500 to finish 2023 at 4,000 after missing mark by the widest margin since 2008 Biggest tech names are carrying the marketĪcross Wall Street, analysts are paying increasingly close attention to indicators that show how heavily the 2023 market rally has relied on shares of some of the most valuable American companies.
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