As Nvidia (NVDA) has fallen from its record highs, Invesco Global Market Strategist Brian Levitt joins Market Domination Overtime to discuss how the market can keep rallying.
"The irony is that when Nvidia was leading or a handful of names were leading, people were bemoaning that to wishing to see, hoping to see a broadening out. So if we do continue to see this broadening out in the market, that’s actually a healthier environment. That’s a better backdrop," Levitt explains. He says that if the Federal Reserve can normalize the yield curve without going into a recession, it would create a "good backdrop for risk assets."
He adds that he’s not worried about a recession: "When I look at the indicators that would suggest to me, if we’re having a recession, I would expect to see corporate bond spreads or yields relative to the risk-free rate blowing out banks, tightening lending standards significantly. So we’re not seeing that. We’re just seeing signs of slowdown in the real economic data."
Levitt emphasizes that the election should not cause market volatility, explaining that he expects markets to continue their trajectory.
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