U.S. tech stocks 'most crowded' trade for bullish investors: BofA survey

FILE PHOTO: Traders work on the floor at the New York Stock Exchange in New York, U.S., January 9, 2020. REUTERS/Brendan McDermid

LONDON - U.S. technology and high-growth stocks have been the “most crowded” trade for three months in a row, Bank of America’s fund manager survey showed on Tuesday, reflecting the market’s bullishness after the U.S.-China preliminary trade deal. Allocations to equities rose to net 32% overweight in January from net 12% underweight in August 2019 as investors took comfort from positive trade talks between the world’s top two economies and recession fears fading.

BofA said the reversal in positioning in equities was the biggest since 2011, although it was still well below the 50% overweight level seen during prior market “tops”.Respondents in the survey forecast S&P 500Reporting by Thyagaraju Adinarayan, edited by Julien Ponthus

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

5 things to know before the stock market opens TuesdayU.S. stock futures were pointing to a lower open, with global stocks from Asia to Europe under pressure. Trump wants negative rates? Lets do this! 1. It's gonna go down. 2. It likely is gonna go back up. 3. The only thing certain is volatility!
Source: CNBC - 🏆 12. / 72 Read more »

Trump and Macron agree to ceasefire on contentious French digital tax - Business InsiderThe fight began in July when France approved a 3% tax on revenue generated by large digital companies operating within the country.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stocks are sinking on fears of the deadly virus in China — 'Markets are worried about this spreading to more cities' | Markets InsiderGlobal stocks dropped on Tuesday as investors braced for coronavirus to spread as hundreds of millions of people travel across Asia to celebrate... Drmonroy4 algún plan para contener este nuevo virus en Guatemala, el viernes en el aereopuerto vi a dos ciudadanos Chinos entrando a Guatemala. Overnights are down .3%, but “sinking” is a stretch. Dow still +29,000
Source: BusinessInsider - 🏆 729. / 51 Read more »