Dow and S&P500 continue to hit record highs, so what is the next move?
Tom Lee, Fundstrat managing partner indicates that the investors should brace for markets to hit an “air pocket” after recent rally. He still predicts that there will be a pullback. And the catalyst is that investors will get nervous about when the Fed will start cutting, that is the biggest uncertainty facing the market which will rattle the market for a long period of time.
In term of the earning season, the big tech companies will release their earning report, such as Meta, Microsoft, Alphabet, etc. The big tech companies are really focusing on the efficiency, where they are spending and where they need to pull back. As for how the earnings propel the market, Tom Lee says these big tech companies are operating different spaces, like something disappointing from Apple, he does not think it will gonna necessarily weaken the market broadly, it just hurts investors who own it.
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