2024-07-20 01:15:00 ET
Summary
- The economic strength that has delayed Fed cuts should support a positive backdrop for corporate earnings.
- The narrowness of market gains remains a concern, with the equity rally seemingly hostage to the performance of Magnificent 7 technology stocks.
- The AI craze and delivery of strong earnings means that investors are still willing to pay higher multiples for those companies.
By Seema Shah, Chief Global Strategist
The narrowness of the equity rally to date remains a concern for investors. While the Magnificent 7 may not enjoy the same outperformance as earlier this year, solid earnings growth should assure continued equity gains. ...
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U.S. Equities: Broadening And Grinding Higher