TSLA
Tesla
-- 248.710 NVDA
NVIDIA
-- 117.700 MU
Micron Technology
-- 94.720 NKE
Nike
-- 67.940 PLTR
Palantir
-- 90.960 Bear-market trap, or market bottom formed? -- a debate on Wall Street
Over the current state of the stock market, whether the rally of the past two weeks might just be a bear-market trap, or whether the recent selloff has formed a low, becomes a hot debate among strategists on Wall Street.
On one hand, the strategists believe the recent surge is a bear-market rally, for deeper losses. Tech stocks are among the best-performing over the past month. Noticed that tech stocks are sensitive to interest-rate moves, because higher yields tend to reduce the present value of future earnings streams, and inflationary pressures undercut corporate earnings.
The worsening macro backdrop and market-unfriendly Fed make sustained U.S. equity gains unlikely.
--- BofA strategists Gonzalo Asis and Riddhi Prasad.
On the other hand, some strategists believe a rally brings optimism to create more upside ahead for stocks, though the S&P 500 closed out its worst quarter even with a nearly 5% gain Thursday since Mar. 2020.
Investors don't typically have to worry about the Fed's first rate hike, while we do have runway, and economic momentum was good coming into this rate-hiking cycle.
--- UBS Asset Management's Jeremy Zirin.
Anyways, the number of mixed signals on Wall Street is growing...
Disclaimer: Past performance can't guarantee future results. Investing involves risk and the potential to lose principal. This article is for information and illustrative purposes only.
Source: Bloomberg
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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