Markets are hanging on to 'overvalued' tech: Strategist

Monday marks the start of a busy week for Wall Street, with a slew of data releases set to shape market dynamics. Big Tech earnings, the highly anticipated Federal Open Market Committee meeting, and the closely watched jobs report are all scheduled to unfold. Wells Fargo Senior Global Market Strategist Scott Wren joins The Morning Brief to provide insights into how these developments might impact markets and the Federal Reserve's rate cut outlook.

As the Big Tech earnings season continues to unfold this week, Wren believes the tech and communications services sectors are"overvalued." However, he acknowledges that with industry heavyweights like Microsoft is largely controlled by institutional shareholders who own 54% of the companyOttawa says only a small percentage of taxpayers will be subject to the changes.

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