Reported 8 months ago
B. Riley Wealth Chief Market Strategist Art Hogan believes that the S&P 500's strong performance this year is not solely dependent on tech giants like Nvidia, Microsoft, and Apple. Hogan expects the market to broaden its success in sectors like energy, financials, utilities, and industrials. He foresees higher-than-expected second-quarter GDP growth and anticipates the Federal Reserve to cut interest rates in September. Hogan notes that investors prioritize strong economic data and earnings over frequent rate cuts, showing confidence in the market's ability to perform well without being overly reliant on the Fed's monetary policy.
Source: YAHOO