The Fed is expected to kick off a rate-cutting cycle at its monetary policy meeting on Sept. 17-18
NEW YORK – A broadening rally in US stocks is offering an encouraging signal to investors worried about concentration in technology shares, as markets await key jobs data and the Federal Reserve 's expected rate cuts in September.
"No matter how you slice and dice it you have seen a pretty meaningful broadening out and I think that has legs," said Liz Ann Sonders, chief investment officer at Charles Schwab. Meanwhile, the so-called Magnificent Seven group of tech giants – which includes Nvidia, Tesla and Microsoft – have underperformed the other 493 stocks in the S&P 500 by 14 percentage points since the release of a weaker-than-expected US inflation report on July 11, according to an analysis by BofA Global Research.
Value stocks that have performed well this year include General Electric and midstream energy company Targa Resources, which are up 70% and 68%, respectively. The small-cap focused Russell 2000 index, meanwhile, is up 8.5% from its lows of the month, though it has not breached its July peak.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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