US Equities (^GSPC, ^DJI, ^IXIC) have begun to edge lower ahead of incoming inflation data in the form of Consumer Price Index (CPI) data. Previously, markets were on a run with the “Magnificent Seven” and bitcoin (BTC-USD) leading the charge.
BMO Capital Markets Chief funding Strategist Brian Belski joins Yahoo money management to give investors insight into how they should best position themselves ahead of a potential pullback.
While Belski views a pullback as “normal and healthy,” he flags opportunities for investors to trim their tech shares: “You still want to maintain positions, but you want to trim here a bit. In this world of yes/no, right/left, green/red, it doesn’t mean sell the stock it just means trim a little bit…So I think the tech shares are kind of the consumer staples so use the pullback in Apple to add more. Apple (AAPL) and Microsoft (MSFT) are the kind of the consumer staple side of things, where really the development is gonna be from Nvidia (NVDA) and AMD (AMD). But we do think that Google (GOOG, GOOGL) and Netflix (NFLX), too, from a communication services standpoint remain very, very strong in terms of their development trajectories, but I think the pullback and weakness in Google is a longer-term buying opportunity as well.”
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