AI frenzy and bank collapses: Stock market themes for the first half of 2023

  • 📰 nationalpost
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 80%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Here’s a look at some of the stock market themes of the first half of 2023. Read more.

will eat away at profits over timeLooking ahead, Barclays Private Bank’s chief market strategist Julien Lafargue expects stocks to trade in a narrow range over the next six months.

As a result, investors will need to look harder for the next winning bet, according to Lafargue, who points to energy and banks as being attractively valued.The buzz around AI led investors to pour a record amount of money into the technology sector, adding nearly US$5 trillion to the value of companies in the Nasdaq 100 index. Nvidia, whose chips are used in AI applications, led the gains, almost tripling and boosting the company’s market value to more than US$1 trillion.

Alongside broader tech gains, the surge was fuelled by positive newsflow that included General Motors Co. and Ford Motor Co. making moves to adapt their electric vehicles to Tesla’s Superchargers, and Model 3 sedans becoming eligible for the full U.S. tax credit.Article contentBanks encountered turmoil on both sides of the Atlantic. In Europe, jitters at Credit Suisse turned into full-blown panic as clients yanked cash out of the former icon of Swiss finance.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 10. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

AI frenzy and bank collapses: Stock market themes for the first half of 2023Here’s a look at some of the stock market themes of the first half of 2023. Read more.
Source: fpinvesting - 🏆 43. / 63 Read more »