Technology Stocks Earnings in S&P 500: David Darst Speaks to Bloomberg Asharq

Bloomberg Asharq hosted David Darst, CFA, Senior Advisor and Investment Strategist at The Family Office, to discuss the earnings of technology stocks that accounted for 80% of the total gains of the S&P 500. Below are the highlights of the interview:

Jun 5, 2023|Management Insights- 1 min

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  • 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.

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Since 2004, The Family Office has been the wealth manager of choice for more than 500 ultra-high-net worth families and individuals, helping them preserve and growth their wealth through customized solutions in diversified alternatives and more. Schedule a call with our financial experts and learn more about our wealth management process.

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