Citi Quants Say Tech Stocks Are a Safe Spot as Recession Looms

-- Growth stocks are the place to be for the long term, despite higher-for-longer interest rates, because they are more resilient in the face of recession, according to Citigroup Inc. quantitative strategists.Apple Considered, Rejected Switch to DuckDuckGo From Google

“We continue to prefer growth in the longer-term,” Li wrote in a note. “It carries less overall macro risk and may provide more downside protection in a recessionary environment, while fully realizing the short-term risk of further rising interest rates.” The strategists’ calls come after a bad few months for tech, with the Nasdaq 100 down 6.7% from its July peak through the latest close. The gauge is still up 35% this year, though most of the gains are attributable to a handful of names.

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Citi Quants Say Tech Stocks Are a Safe Spot as Recession Looms - BNN BloombergGrowth stocks are the place to be for the long term, despite higher-for-longer interest rates, because they are more resilient in the face of recession, according to Citigroup Inc. quantitative strategists.
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Tech stocks poised to do well in the coming months, money manager saysThe tech sector has come under pressure with the recent U.S. market selloff, but a money manager expects some of these stocks will rebound in the coming months.
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Fidelity funds load up on Canadian tech stocks Shopify, Lightspeed, Open Text, filing showsThe big Canadian tech bets by fund managers came during a tough year for both Shopify and Lightspeed
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Asian Stocks Gain After Bounce in US Shares, Bonds: Markets Wrap(Bloomberg) -- Shares rose in Asia after stocks and bonds rallied on Wall Street, bringing some relief to financial markets after a series of punishing losses. Traders’ focus now turns to Friday’s US jobs data.Most Read from BloombergAlmost Anyone Can Become the House Speaker, Except Donald TrumpKey Taiwan Tech Firms Helping Huawei With China Chip PlantsOzempic Is Making People Buy Less Food, Walmart SaysUS Stocks Buoyed by Big Tech Gains as Yields Slide: Markets WrapApple Considered, Rejected S
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Stocks pummeled, bond yields surge amid hot jobs data: Stock market news todayThe Nasdaq led losses as rising Treasury yields piled on pressure and investors got a reminder not to expect a Fed rate cut anytime soon.
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