Stocks are on a roll this year. The tech-heavy Nasdaq is up 35% and the broader S & P 500 's not far behind despite a relentless rise in interest rates by the U.S. Federal Reserve. However, according to Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, these are all reasons to be a "little cautious" following the busiest week for earnings.
line Stocks on the radar The portfolio manager added that Microsoft and AI chip stock Nvidia are on his radar as potential investments, but not "until earnings season is behind us." Slimmon pointed out that the broadening of investors' interests is also likely at play, adding further selling pressure to Big Tech stocks. For instance, while the Nasdaq has been volatile during the earnings period so far, the Dow Jones Industrial Average rose for 13 consecutive sessions.
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