AI is propelling America’s stock markets higher
artificial intelligence are fuelling optimism over how businesses can operate more productively in the years ahead. They are also providing a big boost to the stock market.
It’s the AI-driven stocks that are getting the strongest returns. As a secular theme, for sure, it’s attractive “It’s the AI-driven stocks that are getting the strongest returns,” said Manish Kabra, head of US equity strategy at SocGen. “As a secular theme, for sure, it’s attractive.” “We are strongly of the view that AI will change the world,” Jim Reid, strategist at Deutsche Bank, said in a note titled, “Will ChatGPT prevent the US recession?”
Other factors have supported megacap stocks. Those include a decline in treasury yields from last year’s highs that has soothed concerns over tech valuations and investors viewing megacaps as safety plays in an uncertain environment.
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