Jessica Rabe, co-founder of DataTrek Research, observes the resilience of the “magnificent seven” mega-cap tech stocks. These include Nvidia, Microsoft, Amazon, Meta Platforms, Apple, Alphabet, and Tesla.
Rabe suggests that if these companies continue to deliver strong earnings, they will likely outperform and drive the S&P higher. Despite potential volatility in interest rates, the confidence of investors in the fundamentals of these tech giants should support their performance compared to other large-cap alternatives.
The market has shown impressive performance so far, and there is hope among investors for this momentum to continue.
Historically, March and April have been strong months for the S&P 500. Since 1950, the S&P 500 recorded higher values in January and February of the same year. It has continued to rise over the next 12 months in 27 out of 28 instances, with an average return of 14.8%.
Analysts on Wall Street predict an approximately 8% upside for the S&P 500 over the next 12 months. Analysts expect the energy sector to experience the most significant increase, forecasting a 17.8% upside over the next year, surpassing all other market sectors.
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