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Monday, February 26, 2024
Here’s why the Magnificent 7 tech stocks will continue to outperform the S&P 493 in 2024, according to Goldman Sachs

Here’s why the Magnificent 7 tech stocks will continue to outperform...

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Mega-cap tech stocks have driven the bulk of the stock market's gains in 2023, and they'll probably do the same in 2024.Goldman Sachs said it expects the top seven stocks in the S&P 500 to outperform the bottom 493 stocks next year.Faster growth rates and reasonable valuations bode well for mega-cap tech stocks, Goldman said.…
The stock market just avoided an ‘earnings apocalypse,’ paving the way for a year-end rally

The stock market just avoided an ‘earnings apocalypse,’ paving the way...

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The stock market has avoided an "earnings apocalypse" following third-quarter results, according to BMO.BMO's Brian Belski highlighted three factors that should help stocks climb the "wall of worry" into year-end."We continue to view this as a bull market and that the path of least resistance is higher stock prices," Belski said. Loading Something is loading.…
Historical returns suggest Wall Street is wrong about 2024, and more big gains are coming for stocks

Historical returns suggest Wall Street is wrong about 2024, and more...

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Wall Street's outlook for the stock market in 2024 is too bearish, according to Fundstrat's Tom Lee.He pointed to the historical distribution of annual stock market returns.Since 1900, the S&P 500 has experienced yearly gains of 10% or more 51% of the time. Loading Something is loading. Thanks for signing up! Access your favorite topics…
The stock market rally is starting to run out of steam, but don’t sell equities just yet, technical analyst says

The stock market rally is starting to run out of steam,...

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The stock market rally is running out of steam, according to Fairlead Strategies' Katie Stockton.But she doesn't suggest investors sell their stocks just yet, as there could be more upside ahead."We would not pare back exposure because short-term upside momentum remains strong." Loading Something is loading. Thanks for signing up! Access your favorite topics in…
CHART OF THE DAY: US bank stocks hit all-time low relative to the S&P 500 as bond crash weakens balance sheets

CHART OF THE DAY: US bank stocks hit all-time low relative...

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US bank stocks hit an all-time low relative to the S&P 500, according to Bank of America.The recent underperformance of bank stocks comes amid a bond crash that has weakened balance sheets.Other factors hurting banks include government regulations and a period of low interest rates. Loading Something is loading. Thanks for signing up! Access your…
CHART OF THE DAY: Tech stocks are at record highs versus the S&P 500, eclipsing the dot-com bubble’s peak

CHART OF THE DAY: Tech stocks are at record highs versus...

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Technology stocks just hit all-time highs relative to the S&P 500, according to Bank of America.The surge has eclipsed the dot-com bubble highs from 2000 and the highs seen during the 1960s bull market.Bank of America's Michael Hartnett credits the "AI productivity miracle bull" for tech's recent dominance. Loading Something is loading. Thanks for signing…
Rising air pollution in China suggests its economy is growing faster and oil prices will climb

Rising air pollution in China suggests its economy is growing faster...

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Rising air pollution in China suggests its economy in on track to see a jump in growth, according to DataTrek Research.Oil prices should rise if China's economy is accelerating, as its air quality suggests."We prefer owning US large cap energy to Chinese equities to play this turn," DataTrek said. Loading Something is loading. Thanks for…
5 reasons the S&P 500 will rally in year-end and 2024 after entering a correction, Wall Street strategist says

5 reasons the S&P 500 will rally in year-end and 2024...

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Investors shouldn't give up on the stock market just yet, according to Raymond James. The investment firm said the 10% correction in the S&P 500 should transform into a year-end rally. These are the five reasons why Raymond James remains optimistic towards stocks. Loading Something is loading. Thanks for signing up! Access your favorite topics…
The stock market is grasping for direction as multiple buy and sell signals flash at the same time

The stock market is grasping for direction as multiple buy and...

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A flurry of buy and sell signals is sending mixed messages as to where the stock market goes from here.The confusion comes as investors continue to debate when a recession will hit the economy.Here's a round up of the buy and sell signals that have flashed in the stock market over the past month. Loading…
Magic: The Gathering is a victim of its own success and could weigh on Hasbro stock, Bank of America says

Magic: The Gathering is a victim of its own success and...

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Hasbro stock plunged 16% after it reported third-quarter earnings that missed analyst estimates.The toy company also lowered its revenue guidance, suggesting a weak holiday quarter ahead.Bank of America downgraded Hasbro to "Neutral" and said its Magic: The Gathering franchise is a victim of its own success. Loading Something is loading. Thanks for signing up! Access…

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