Fed must get 'more aggressive' with rate cuts due to weakening jobs market, Canaccord's chief market strategist says
Publishing timestamp: 2024-03-31 17:00:01
Summary
Canaccord Genuity's Tony Dwyer believes the Federal Reserve may need to cut rates deeper this year due to a deteriorating jobs market and easing inflation. He expects rate cuts to benefit financials, consumer discretionary, industrials, and health care stocks. Dwyer also predicts a broadening of market performance by the end of the year, moving away from the dominance of the "Magnificent Seven" tech stocks.
Sentiment: MIXED
Tickers: .SPX, AMZN, MSFT, XLV, TSLA, NVDA, META, AAPL, XLF, GOOGL, XLI, XLY,
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