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Wall Street at peak: Correction ahead or more gains and which U.S. stocks to buy?

Published 2024/06/14, 13:40
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Investing.com – In a dynamic context like the current one, some analysts fear that with US indices at their highest and uncertainties about the trajectory of monetary policy, volatility might increase.

“Yesterday's equity session in the US, which we can somehow define as the benchmark for global markets, saw the S&P 500 and NASDAQ Composite gain 0.23% and 0.34% respectively, while the Dow Jones Industrial Average lost 0.17%. Technology, real estate, and utilities stocks led the charge, while communication services, energy, and industrial stocks recorded the worst performances,” comments Saverio Berlinzani, senior analyst at ActivTrades.

“It should be noted that the trend in equity is now largely decoupled from everything, from macro data to other assets, and continues to outperform thanks to the technology sector, particularly artificial intelligence, which some believe is just at the beginning of its development and growth boom,” the expert observes.

“Obviously,” Berlinzani admits, “it is quite frustrating to even think about selling equities because you almost certainly end up holding the bag, but it is strange that there are no minimal corrections in a market that seems intoxicated by euphoria.”

These opposing sentiments are currently shared by many investors. They don’t sell for fear of missing opportunities and don’t buy for fear of a crash. But as we know, immobility in the markets doesn’t pay off in the long run. So what should one do if uncertainty increases?

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