Markets (^DJI, ^IXIC, ^GSPC) are trading mixed Thursday afternoon, recovering from a tech sell-off triggered by disappointing reports from the 'Magnificent 7...
Over the past 10 days, the S&P 500 remains down about 2% while Nasdaq is off more than 4%triggered by disappointing reports from the"Magnificent 7" companies. Savita Subramanian , BofA Securities Head of U.S. equity strategy & U.S. quantitative strategy at joins Market Domination to share her market outlook.
Um I think it gets harder in particular for technology companies for mega cap tech because really here we're starting to see these companies price in much loftier expectations.These companies cut cap X, they cut costs, they, you know, downsize their workforces, they did everything like from a self help angle.It's, you know, these are companies that are spending a lot of money cap X is back on the table for mega cap tech.
And I think one of the most interesting themes in the S and P 500 right now is looking at the fact that regardless of who wins the election, which is the big event in November, we are likely to see support from both sides of the aisle when it comes to uh just, you know, moving IP out of China back to the US, moving jobs to the US, moving manufacturing to the US that has already happened.
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