By Sheraz Mian
The Mag 7 companies are expected to bring in 20.6% of the S&P 500 index’s total earnings in 2024.
If we want 2% inflation, then we need M to grow about 2% faster than GDP.
The current correction is becoming increasingly oversold, which suggests a bounce is likely toward the previous support of the 50-DMA.
Most markets have been all over the map in the past 4 years since the onset of Covid and the forced economic shutdown.
Wall Street has significantly revised its expectations for Fed rate cuts in 2023. Traders have shifted their bets from initially anticipating seven cuts to now predicting just one.
Buying undervalued dividend stocks with growth potential could lead to above-average returns.
Yields are trading at resistance from a technical point of view and from the Elliott Wave perspective.