Reported about 1 year ago
Since the latest stock market rally began in October 2022, the growth of Big Tech has been significant, but with an uninspiring earnings outlook for the rest of 2024, other sectors will likely be needed for share prices to continue to soar. Sectors like materials and health care are expected to see roughly 25% profit growth by the fourth quarter after experiencing contractions in the first quarter. While investors aren't giving up on Big Tech, they are also shifting focus to sectors like energy, materials, consumer discretionary, industrials, and financials, indicating a potential sector rotation in the market.
Source: YAHOO