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Goldman Sachs Asset Management: Suggests moderately over-weighting US stocks bullish on technology, energy, and industrial stocks.
According to Zhītōng Cáijīng APP, Neill Nuttall, Joint Chief Investment Officer of Goldman Sachs Asset Management's Diversified Asset Solutions, indicated that despite facing geopolitical risks, the global growth environment is good, inflation is slowing, and central banks worldwide are cutting interest rates successively. Therefore, the outlook for risk assets is positive, and he recommends a moderate overweighting of U.S. stocks, bullish on technology, energy, and industrial stocks, but cautious on defensive, utilities, and essential consumer stocks.
Will tonight's CPI announcement determine whether there will be an interest rate cut in September?
After Federal Reserve Chairman Powell's speech to Congress, US stocks began to celebrate the interest rate cut in September. The S&P broke 5600 points for the first time in history. The heavy inflation data to be released tonight is expected to add fuel to this optimistic sentiment.
Fed Must Remain Data-Driven: Hagerty on Fed, Inflation
Republican Senator of Tennessee, Bill Hagerty, talks about Federal Reserve Chair Jerome Powell's testimony during the Senate Banking Committee hearing and voices his concern that Chairman Powell may be under political pressure to cut rates, and states he hopes Powell will remain data-driven. He also talks about former President Trump, and if the US relationship with NATO will change if the former President wins in November.
No longer a case of "The Boy Who Cried Wolf"? The New York Federal Reserve comments that this time, "Powell Pivot" will be more sustainable than at the end of last year.
Nowadays, the threshold for Fed rate cuts is lower than in previous months and the situation has changed. Powell believes that inflation is returning to normal and the labor market is clearly weakening, further weakness is unnecessary and unwanted.
Stocks Are Due for a Correction, This Veteran Trader Predicts - but He's Staying Invested
The stock market now is 'numb to all news'.
The market continues to be "Risk On"! The expectation of interest rate cut is not hindered by the Federal Reserve. Technology giants drive the US stock market to hit new highs.
Zhitong Finance APP noticed that the stock prices of the world's largest technology giants such as Apple (AAPL.US), Microsoft (MSFT.US) and Nvidia (nvidia.US) rose collectively and pushed the US stock market to a historic high. The speech by Federal Reserve Chairman Powell in Congress did not prevent traders from betting on a rate cut by the Federal Reserve this year. The market's fund flow continues to show a frenzy of 'Risk On', driving the S&P 500 index to break 5600 points for the first time in history. This new round of competition for large technology stocks, as well as Powell's rare relatively dovish remarks,
70620572 : sp600small caps yes, iwm no small regional banks are too heavy weighted in it