(Bloomberg) — Traders on Wall Street are eagerly anticipating crucial inflation data that could push stocks to new heights, especially with the tech sector leading the way once again.
One day before the release of data expected to show a continued decrease in consumer prices, stocks experienced slight gains. The S&P 500 reached over 5,760 points. Apple Inc. played a significant role in boosting large-cap stocks, while Tesla Inc. saw an increase following its record-breaking quarter for shipments to China. However, Alphabet Inc. faced a decline of 1.8% due to reports of potential Google breakup as part of a major antitrust case.
Despite recent fluctuations in major tech stocks, Solita Marcelli, Chief Investment Officer Americas at UBS Global Wealth Management, views any weakness as an opportunity for investors to buy into the market.
“We maintain our positive outlook on the technology sector and artificial intelligence,” said Marcelli. “Given this environment, we believe that volatility can be leveraged for long-term AI investments…
2024-10-09 09:56:31
Originally published on finance.yahoo.com