Stock Market Outlook: FOMO rally is unsustainable, most AI stocks are bottoming

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 54 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 51%

مصر أخبار أخبار

مصر أحدث الأخبار,مصر عناوين

The market's FOMO-driven rally is unsustainable and most AI stocks are still bottoming, CIO says

The red-hot rally in stocks is mostly being driven by FOMO, and the excitement for AI won't be enough to stop most artificial intelligence stocks from bottoming, according to Main Street Research chief investment officer James Demmert.

"The recent market strength is being driven by FOMO by both retail and institutional investors," he said."We do not think the daily grind upward in the stock indexes is sustainable, largely amid the possibility of mixed earnings reports over the next few weeks and the possibility of yet another Fed rate hike. Rather than chase stocks at these levels, investors would be wise to be patient at this point and use any corrections as a buying opportunity.

The Fed is also likely to issue hawkish guidance at the end of its policy meeting, Demmert added, which could also be a negative for stocks. That's because central bankers are looking to contain investor excitement over the market, which works against the Fed's goal of tightening financial conditions.

"We tell investors who have a case of FOMO that only a small part of the train has left the station, as most stocks are still bottoming. The AI-related stocks that have left the station are likely to back up allowing for a better entry level," he warned.

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 729. in EG
 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

FOMO, YOLO, RINO: The quirkiest market buzzwords of 2023FOMO, YOLO, RINO: The quirkiest catchphrases explaining the surprising buoyancy of the stock market and economy
مصدر: BusinessInsider - 🏆 729. / 51 اقرأ أكثر »

Stock Market Shrugs Off Recession Signals as Rally BuildsWhat recession? The S&P 500 is trading near its highest level in 14 months as hopes grow for a soft economic landing
مصدر: WSJ - 🏆 98. / 63 اقرأ أكثر »

Stock market news today: Indexes rise ahead of tech earnings, Fed meetingUS stocks rise ahead of big tech earnings and the Fed's next rate move
مصدر: BusinessInsider - 🏆 729. / 51 اقرأ أكثر »

‘AI-Driven Bubble’ May Burst And Drag Down Stock Market, JPMorgan SaysFallout from elevated interest rates, an “erosion” of personal savings and a “deeply troubling” geopolitical situation will lead to broad market declines, according to strategists at the world’s largest bank.
مصدر: Forbes - 🏆 394. / 53 اقرأ أكثر »