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| Name | Why the stock market could slow down in late 2024 |
| Video Uploader | Video From Yahoo Finance |
| Upload Date | This Video Uploaded At 08-07-2024 15:00:32 |
| Video Discription | Wall Street is bracing for June's Consumer Price Index (CPI) report this week, which will serve as a key economic indicator amid the Federal Reserve's battle with inflation. Truist co-chief investment officer and chief market strategist Keith Lerner joins Morning Brief to discuss the potential for interest rate cuts this year and how that will play into the market. Lerner believes the Fed will cut rates in September and that there will be one to two rate cuts by the end of 2024. "What we're starting to see is a slow but global easing cycle. You put that together with profits that are still moving forward, [and] we still think that's a positive environment for stocks. But again, probably not at the same pace that we saw in the first half," he explains. Despite the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) having been pushed to record highs in 2024, Lerner has recently walked back his bullish calls on the tech sector. He says, "Our main message to our clients was, listen, we still like tech. We don't think this is a bubble longer term, but on a short-term basis, we're getting a little bit overheated, a bit stressed, and we just think there will be a better opportunity to redeploy capital there in a more meaningful way." He adds that there may be some rotation in the market later this year as tech begins to slow. About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company/yahoo-finance #stockmarket #stocks #yahoofinance St14BlP7F-w |
| Category | News & Politics |
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