Some Wall Street banks are sounding caution on the U.S. stock rally, warning that stretched valuations have made equities more vulnerable to declines.
for the week though it is up more than 13% since the year began, fueled by signs of moderating inflation, excitement over advances in artificial intelligence and growing appetite for risk.
"With valuations now pushing the outer limits of what we would think would be reasonable. ... We would be taking some chips off the table," said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute . The earnings outlook for the high-growth companies that make up the Nasdaq 100 is more tepid than in 2021, when the index also rallied sharply, making it more challenging to justify high valuations, said Michael Purves, chief executive officer at Tallbacken Capital Advisors.
Investors next week will be watching for more data on the economy's health, including key inflation data on Friday, as the second quarter comes to an end.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Stock futures are flat on Thursday evening as Wall Street heads for losing week: Live updatesAll three major averages are on track for a losing week.
Les mer »
Wall St turns cautious ahead of Powell's second day of testimonyWall Street fell on Thursday in cautious trading as Federal Reserve Chair Jerome Powell was set to continue his testimony, a day after he stuck to his hawkish stance on interest rate hikes before a Senate committee.
Les mer »
Fire crews save 6-week-old kitten stuck in block wallFirefighters rescued a young feline caught inside a block wall.
Les mer »
Wall Street falls to close out its first losing week in the last sixWall Street’s hope has been that slowing inflation could get the Fed to take it easier on rates, while a small cadre of stocks soared to incredible heights amid a frenzy around artificial-intellige…
Les mer »
EUR/GBP climbs to over one-week high, holds above 0.8600 ahead of BoEThe EUR/GBP cross gains some positive traction for the fourth successive day on Thursday and trades just above the 0.8600 mark during the Asian sessio
Les mer »
EUR/USD corrects further from multi-week high, slides below mid-1.0900s ahead of PMIsThe EUR/USD pair extends the overnight retracement slide from a six-week peak - levels just above the 1.1000 psychological mark - and drifts lower for
Les mer »