CIO calls a new phase in the market, says a 'healthy' rotation has begun
Publishing timestamp: 2024-01-08 07:15:57
Summary
The CIO of Swiss private bank, Charles-Henry Monchau, predicts a broadening of the stock market as big U.S. tech stocks come under pressure. He expects a technical recession in the first half of the year followed by a recovery. He suggests investors reallocate from big tech to industrials, materials, and healthcare. This view is echoed by Wells Fargo's Scott Wren, who believes the economy is slowing and advises reallocating funds from technology, consumer discretionary, and communications services sectors to industrials, materials, and healthcare sectors.
Sentiment: NEUTRAL
Tickers: MSFT, TSLA, AAPL, GOOGL, META, AMZN, .SPX, NVDA,
Keywords: s&p 500 index, breaking news: technology, wall street, markets, united states, tesla inc, business news, breaking news: markets, investment strategy, meta platforms inc, microsoft corp, alphabet inc, apple inc, economic events, breaking news: investing, technology, u.s. economy, amazon.com inc, nvidia corp,