Jinshi data news on July 3, Morgan Asset Management's chief global market strategist David Kelly said that if the market does not experience a situation similar to the market crash experienced by investors in 2022, the huge influence of tech giants on the US stock market may continue. Kelly and other Wall Street professionals expect that by the end of the year, the profit growth of the S&P 500 index will expand, not only limited to the tech giants. However, in his view, this may not be enough to eliminate the huge performance gap between these mega-cap stocks and other components of the US benchmark index. Kelly said that this means that only when the market sentiment suffers a great blow, can the trend of funds flowing into large-cap tech stocks be stopped. For example, two years ago, tech stocks were suppressed by the massive policy tightening of the Fed and fell more than the broader market.
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Morgan Asset Management Strategist: Only bear market shocks can disrupt the power of technology stocks.
Jinshi data news on July 3, Morgan Asset Management's chief global market strategist David Kelly said that if the market does not experience a situation similar to the market crash experienced by investors in 2022, the huge influence of tech giants on the US stock market may continue. Kelly and other Wall Street professionals expect that by the end of the year, the profit growth of the S&P 500 index will expand, not only limited to the tech giants. However, in his view, this may not be enough to eliminate the huge performance gap between these mega-cap stocks and other components of the US benchmark index. Kelly said that this means that only when the market sentiment suffers a great blow, can the trend of funds flowing into large-cap tech stocks be stopped. For example, two years ago, tech stocks were suppressed by the massive policy tightening of the Fed and fell more than the broader market.