Black Friday Expectations & AI Hype
The likes of consumer resiliency based on the earliest readings on Black Friday sales and the degree to which the Artificial Intelligence theme continues support the idiosyncratic tendencies of the markets concentrated in the Magnificent 7.
Moving Averages: S&P Finishes November Up 8.9%
Valid until the market close on December 31, 2023
The S&P 500 closed November with a monthly gain of 8.92%, after a loss of 2.20% in October. After close on the last day of the month, one of five Ivy portfolio ETFs — iShares 7-10 Year Treasury Bond ETF (IEF) — is signaling "cash", down from last month's final quadruple "cash" signal.
Magnificence Beyond the Magnificent 7
Whether famous or infamous, the Magnificent 7 stocks have been 2023’s stock market story. However, the fundamentals of the Magnificent 7 aren't uniquely superior, and the breadth and depth of other growth opportunities seems historically large and attractive. In our latest insight, we complete an analysis of US companies with expected earnings growth greater than 25% and compare it against the Magnificent 7 stocks.
Quality: The Real McCoy
While equity styles go in and out of favor, quality companies continue to serve clients as a core holding, resilient to economic headwinds and market drawdowns. For long-term investors searching for a durable equity solution, we believe quality is “the real McCoy"