February 23, 2024
Michael Landsberg, Landsberg Bennett Private Wealth Management CIO, and CNBC’s Steve Liesman join ‘The Exchange’ to discuss earnings from Nvidia and Palo Alto Networks, the overall market’s performance relative to AI stocks and more.
Landsberg delves into the recent dynamics of the stock market, particularly focusing on the performance of tech giants like NVIDIA and the broader implications for the market.
Here’s an overview of the conversation’s key points:
NVIDIA’s Earnings Impact: Landsberg highlights NVIDIA’s significant earnings report, which exceeded expectations and reassured investors about the strength of the generative AI sector. This performance was crucial, especially following Palo Alto Networks’ disappointing guidance, and helped prevent a loss of confidence in the tech sector.
Market Breadth and Tech Dominance: The conversation touches on the need for a broader market participation beyond the major tech companies. Despite the dominance of big tech in driving market returns, there’s a noticeable shift with other sectors beginning to contribute to market growth, indicating a healthier, more diversified market environment.
Economic and Market Outlook: Landsberg and the discussion also cover the broader economic indicators and their relationship with market performance. There’s an acknowledgment of the Federal Reserve’s role and the potential challenges and opportunities presented by the evolving economic landscape, particularly in relation to AI and its impact on productivity and labor markets.
Sectoral Shifts and Investment Opportunities: The dialogue suggests that while tech, particularly AI, remains a strong performer, there are emerging opportunities in other sectors, as evidenced by the performance of the Russell 2000 and other indices, pointing towards a more balanced and broad-based market recovery.
Landsberg Bennett is a group comprised of investment professionals registered with Hightower Advisors, LLC, an SEC registered investment adviser. Some investment professionals may also be registered with Hightower Securities, LLC (member FINRA and SIPC). Advisory services are offered through Hightower Advisors, LLC. Securities are offered through Hightower Securities, LLC.
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