The BNP Paribas Wealth Management CIO weighs in on the recent earnings reports and stock market performance in the US and Europe. Mid-cap stocks also contributed to the market rally. Meanwhile, U.S. stock index S&P 500 recorded a new record high, closing above the 5,000 mark on Friday afternoon. However, Infrastructure Capital Advisors’ Jay Hatfield predicts that the S&P 500 has the potential to reach 5,500 by the end of the year, representing a 9% rise.
Chief economist at Allianz, Ludovic Subran, emphasizes the importance of company strategies in determining returns over the macro environment. He discusses the global effects of the “Magnificent Seven” dominance in the U.S. and the potential impact of a re-rating. On the other hand, investing in tech stocks is still a good option for investors as they continue to perform well in the market. Tech stocks in Citi’s list of top “high-conviction” picks from different markets around the world provide an opportunity for further upside for investors.