This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe, founder of the hedge fund Key Square Group, as his Treasury secretary. Like Trump, Bessent is in favor of gradual tariffs and deregulation to support domestic business and address trade imbalances.
Likewise, small-cap stocks, which have languished behind their bigger cousins for years, seem to be staging a comeback as interest rates fall and Trump is poised to reenter the White House. The"Investors are rotating out of the previous high flyers of large-cap communication services and technology and into other cyclical sectors of consumer discretionary, industrials, and financials, as well as mid- and small-cap stocks," said Sam Stovall, chief investment strategist at CFRA Research.
That said, this inversion isn't likely to last."On the back of strong expected revenue growth in 2025, we maintain our positive view on the AI compute industry and NVIDIA in particular," UBS analyst Sundeep Gantori wrote in a Thursday note.Recalls
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