Can stocks finish strong in 2023? Wall Street giants weigh in
Publishing timestamp: 2023-09-07 01:27:41
Summary
The article discusses how strategists at Wall Street's biggest banks are cautiously optimistic that investors can find returns through the rest of the year and beyond, despite the rough month experienced by global stock markets in August. The article mentions that interest rates are expected to stay higher for longer, which has impacted risk sentiment. However, the article highlights that valuations look less stretched and there may be opportunities to rebuild equity exposure. The debate over monetary policy has shifted from how high rates will go to how long they will stay elevated. The article also mentions that while there are some challenges, such as higher mortgage rates and credit card delinquencies, consumers have not significantly changed their behavior and spending remains solid. The article concludes by noting that technology stocks, particularly those focused on AI, have driven a significant portion of the market's gains this year.
Sentiment: POSITIVE
Tickers: GS, TSLA, NVDA, META,
Keywords: goldman sachs group inc, u.s. economy, business news, breaking news: markets, breaking news: investing, investment strategy, economy, breaking news: economy, nvidia corp, technology, breaking news: technology, meta platforms inc, markets, tesla inc,
Source: https://www.cnbc.com/2023/09/07/can-stocks-finish-strong-in-2023-wall-street-giants-weigh-in.html