Barron’s: “The Fed Could End the Stock Market’s Rally Anytime It Wants To”
By datatrekresearch in IN THE NEWS
Excerpt from Barron's quoting DataTrek co-founder Nick Colas:
.... "That’s one reason Nicholas Colas, co-founder of DataTrek Research, remains optimistic, despite signs that Big Tech, the driver of this year’s rally, may be losing momentum. With the S&P 500 up so much this year, some investors may opt to take profits and sit out the rest of 2023. Others might just rotate out of highflying tech names into cyclicals, such as financials. That might make for a good trade, and a rotation is typically a bullish signal.
But because tech is such an outsized portion of the market, those other stocks would have to post enormous gains to move the index meaningfully in the back half of the year. “If Big Tech goes down by 10%, you need everything else to go up so much more,” Colas said"....
Full article here on Barron's.
