The Federal Reserve will begin its policy meeting on Tuesday.
Investors should disregard concerns over high valuations and focus on growth in what is now a 'stockpicker's market,' according to Matt Orton, chief market strategist at Raymond James Investment Management.
Nvidia trades at around 35 times forward earnings, according to FactSet data, and the broader Magnificent 7 trades at an average of around 34 times forward earnings. The S & P 500 , meanwhile, is at a historically high average of 21 times forward earnings. Tet Orton argued that historical comparisons are irrelevant in a much 'growthier' market, and that paying a higher multiple is 'perfectly fair' in this changed environment.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S&P 500 futures rise in overnight trading, Nvidia shares jump: Live updatesNvidia shares popped in after-hours trading as the chip giant posted record revenue and issued upbeat guidance.
Read more »
S&P 500 falls after another hot inflation report send Treasury yields higher, Nvidia slips: Live updatesThe broad market index slipped Thursday as traders weighed a hotter-than-expected wholesale inflation reading and a decline in market leader Nvidia.
Read more »
How to Watch Daytona 500 Live For Free 2024: Where to StreamThe race is still on.
Read more »
S&P 500 futures are little changed as investors look to holiday-shortened trading week: Live updatesAll three of the major indexes ended their 5-week winning runs with last week's losses.
Read more »
S&P 500 futures are little changed as Wall Street braces for February jobs report: Live updatesFebruary's jobs report will likely set the tone for Friday's trading.
Read more »
Stock futures are little changed after S&P 500 closes at new record high: Live updatesWall Street is coming off of a solidly positive day, led by a big jump for Nvidia.
Read more »