AI, Crypto and Gold on Watch as Equity Bull Run Continues
Magnificent 7 stocks remain popular and earnings are strong – factors that have already seen the Nasdaq and S&P 500 gain around 15% and 12%, respectively, as of mid-October. Barring an unexpected shift in monetary policy, deteriorating economic conditions and/or another unforeseen event, the rally could continue into next year.
“The train is not stopping,” said Greg Benhaim, head of product and trading at crypto investor 3iQ, adding that quantitative easing and strong liquidity is encouraging investors to pour billions into a plethora of assets, whether real estate, crypto or Mag 7 stocks.
Benhaim added that the dollar’s weakness is helping lift gold, which is up 51% this year against an 11.7% gain for the S&P 500.
“The…
