Gary Black says the stock market will continue to trend higher with volatility this year. He also shorts the ones that he thinks will lose to these same trends. Phillip Wool
The stock market's more recent rally was due to the Federal Reserve's expected June pause on rate hikes, he said. Moving forward, he thinks there may not be any more hikes. "When you look at some of the data, housing prices are now falling. That's the first time since about 2011," Black said."The money supply is down 5% year over year: that's the biggest decline on record. You're seeing rents roll over. And at the same time, true inflation, if you exclude food, energy, and housing, is running about 2.5%. So I think the Fed is smart enough to see that.
Climate sustainability is another mega trend. One of the themes within this shift is electric vehicles, andBlack believes it will go to about 66% by 2030. The vehicle company is set to be the main beneficiary of that because it's the number-one brand in the space. Finally, Elon Musk is focused on reducing the price to create a Tesla model that costs between $25,000 and $30,000, which will expand the total addressable market, he said.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russian companies doubled revenues to $15 trillion even amid sanctionsRussian companies doubled their revenues to $15 trillion last year because the energy market did so well — but that doesn't mean they're reaping massive profits
Source: BusinessInsider - 🏆 729. / 51 Read more »