[ad_1]
Markets were volatile in the first few weeks of trading, with economic headwinds such as the escalating conflict in the Red Sea weighing on investor sentiment. All eyes are on the World Economic Forum in Davos, Switzerland, this week as market participants seek insight into his 2024 economic outlook. Global X CIO John Maier joins Yahoo Finance to share his perspective on where the market is and why. We believe advances in AI and other technologies make us optimistic about the future.
Meyer explains: “It’s very early in the season, but I’m confident that we’ll come out of the earnings recession and see some growth. We’ll probably see 3-4% growth in the S&P 500, especially in this space. If you listen to some of the executives talking about what’s going on, AI, capital spending, etc., the revisions are expected to be down 6-7% and that’s going to help the market. It’s going to help companies improve their overall efficiency, and I think that’s what the market is paying attention to every time there’s a mass layoff. It’s not positive, but companies do well. It’s a trend. Improving efficiency is, I think, really important.”
For more expert insights and the latest market trends, click here to watch the full episode of Yahoo Finance Live.
Editor’s note: This article was written by Nicholas Jacobino
[ad_2]
Source link
