Wall Street melt-up could continue longer than you think – Oppenheimer
With Wall Street crossing the 20-month anniversary of the bull market, many investors are asking if the rally is looking stretched.
John Stoltzfus, Chief Investment Strategist and Managing Director at Oppenheimer Asset Management, tells IGTV’s Angeline Ong the rally could go on longer than many expect because many tech companies’ products are becoming more deeply embedded in the lives of business and consumers.
(AI Video Summary)
How AI is influencing the US stocks "melt-up"
John Stoltzfus from Oppenheimer discusses the sustained "melt-up" of the US stock markets, driven by the transformative influence of artificial intelligence (AI), similar to the tech revolution sparked by the Internet. He notes AI's broad applicability across various sectors, suggesting a potential for continued market growth due to significant sidelined capital ready to be deployed.
Promising healthcare sector
Additionally, he highlights healthcare as a promising sector and addressed the resilient American consumer's spending habits, fueled by a mix of disposable income and credit utilisation. He remains bullish with higher market projections towards year-end.
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