ACI CEO Todd R. Walsh was recently quoted by S&P Global Market Intelligence. Here is an excerpt below:
“Beyond the S&P 500, stocks largely rose during the year. For example, the Nasdaq composite index climbed 43.4% in 2023 after falling 33.1% in 2022, as leaps in artificial intelligence boosted tech stocks.
‘The AI trade will probably be with us for many years into the future,’ said Todd Walsh, CEO and chief technical analyst of Alpha Cubed Investments. ‘But it is a mistake to assume this sector will go straight up. It won’t.’
There will likely be some consolidation in many of the tech stocks that saw huge moves in 2023, and the sector will probably see volatility this year, Walsh said.
A potential further boost to stocks would be rate cuts. With inflation growth now moving toward the central bank’s 2% target, the futures market is expecting rate cuts to begin as soon as March.
‘The Fed’s flexibility has drummed up confidence, and lower rates could eventually support growth in an incredibly resilient economy,” said Cox with eToro. ‘Of course, there are still risks to consider. It’s still a tough operating environment for companies, so you have to be picky.'”
Click Here to Read the Full Article by S&P Global Market Intelligence
