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Don’t Feel Bullied by the Stock Rally | What Goes Up
Posted
February 17, 2023
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February 17, 2023
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32:55Now PlayingThe stock market may be off to a great start in 2023, but investors should be “mindful about not being bullied” by the rally, says Wealth Enhancement Group’s Nicole Webb.
She warns that it won’t last.
The S&P 500 is up 7% so far this year, while the tech-heavy Nasdaq 100 has surged roughly 15%. Webb, a senior vice president and financial adviser at the firm, joined the What Goes Up podcast to discuss her views on the market and the speediness of the recovery.
“To us fundamentally, does technology make sense from a valuation standpoint?” she said. “Much of this rally in mega-technology—or if you even want to just call it a Nasdaq rally year to date—it’s a little bit of an unwinding of the selloff of last year, probably closely followed by a bit of a FOMO rally.”
“We’re not bullish on the stickiness of this as we don’t see any type of Fed pivot” from rate hikes in the near term.
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Hosts Mike Regan and Vildana Hajric are joined each week by expert guests to discuss the main themes influencing global markets. They explore everything from stocks to bonds to currencies and commodities, and how each asset class affects trading in the others. Whether you’re a financial professional or just a curious retirement saver, What Goes Up keeps you apprised of the latest buzz on Wall Street and what the wildest movements in markets will mean for your investments.
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