Market Musings 160624: US Tech powers on, while France weighs on Euroland
1-line conclusion: stock markets still trending higher, but buying opportunities will arise in a 3 steps forward, 1 step back progression.
Wait for potential entry opportunities in European stocks (e.g. Banks), UK stocks and both precious and industrial metals (e.g. copper) once the current corrections run their course.
Soon could be a great time to sell pounds and buy euros at close to or even at EUR1.20 per 1 pound.
Podcast - Opportunities in unloved stock markets today (click here for link to webpage)
In this podcast, Edmund Shing, Global Chief Investment Officer and
Philippe Gijsels, Chief Investment Advisor at BNP Paribas Fortis
Belgium, discuss investment opportunities and unloved stock markets.
Podcast - The Investment Potential of Copper (click here for link to webpage)
In this podcast, Edmund Shing and Xavier Timmermans discuss the recent copper high levels and their high value potential.
No signs of popping of the AI Bubble yet
The US stock market continues to lead global markets, with a very narrow leadership of Nvidia, Apple and Google driving the Nasdaq 100 and S&P 500 indices.
No let-up in Mega-Cap Tech leadership
Source: tradingview.com
I really don't know what to say any more about this narrow AI-related techj market leadership...
except that it continues to concern me.
Keep this chart in mind too... what goes up quickly can also deflate very quickly. (at some point)...
Source: Bank of America
Outside of large-cap Tech, the anti-obesity theme continues to drive strong performance in the European and US Healthcare sectors.
Healthcare also strong, thanks to Novo Nordisk and Eli Lilly
Source: tradingview.com
But note that the average US stock is falling, even the average Nasdaq 100 stock is not keeping up with the Large-Cap Tech leaders.
But the average US stock is faltering, even the average Nasdaq 100 stock not following Tech leaders
Source: tradingview.com
Eurozone stocks are suffering the most…
