China has been talking up its markets, and that’s lifting all boats this morning, with Wall Street poised for a strong start ahead of what’s expected to be the first Fed rate hike in more than three years.
Those worries have fed to losses in particular for the tech heavy Nasdaq Composite COMP and smaller companies RUT . This chart from fund house Artemis shows how valuation multiples of small companies have seen harder hits than large-caps over the last six months. Weldon explains that the market is “extremely polarized” right now, with investors rotating between extremes of value and growth amid a fast-moving inflation and interest-rate debate. He expects stock specifics will become important again, and his cyclical-growth mixed portfolio should do well.
Finally, he likes Pool Corporation POOL , which is a niche provider of pool supplies, giving it an enviable degree of pricing power. “Moreover, during the crisis people used their savings – and filled their time – by installing swimming pools,” said Weldon. Disney DIS employees are calling for walkouts over the next week to protest the company’s response to a Florida’s ‘Don’t Say Gay’ bill.
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