#market #tech #yahoofinance
As markets (^DJI, ^IXIC, ^GSPC) enter the third quarter, growth is visibly expanding beyond the tech sector. Charles Schwab’s Director and Senior Investment Strategist Kevin Gordon, joins Morning Brief to share his market outlook.
Gordon clarifies that there isn’t a "definitive leadership shift" from tech to defensive sectors. Instead, he observes that utilities and related sectors are playing "catch-up" following the AI-driven tech boom. Notably, sectors like industrials, financials, and materials are outperforming as cyclical parts of the market fare "relatively well." Gordon characterizes this as a broadening of the market rather than a clear-cut leadership change.
"In terms of market breadth, you’re in a better position across all sectors," Gordon told Yahoo Finance, noting strong performance in both large and small caps. He adds, "I think what has been very clear, and what would probably continue to be the case as long as we stay in a relatively elevated rate environment, even if the Fed is still cutting, is that high-quality small caps will continue to do well."
For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.
This post was written by Angel Smith
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