Jun 5, 2023|Management Insights- 1 min
There’s a big excitement about Artificial Intelligence (AI), which raised technology stocks and enhanced their performance in US markets thus far this year. The most prominent technology companies were Apple, Microsoft, Google, Nvidia, Meta and Amazon.
Technology stocks accounted for around 80% of the total gains of the S&P 500. Nasdaq has also increased 21% thus far this year.
Interest rates did not affect the performance of companies, nor did they increase as expected early this year. The Family Office anticipates the possibility of a “light” recession this year.
The price of the dollar is not only determined through market developments, it is also affected by interest-rate hikes. Ongoing actions by the Bank of England, the European Central Bank and the Bank of Japan also affect the direction of the dollar.
Watch the full interview above.