The stock market rebounded after a $US2 trillion selloff, with investors hanging their hopes on whether big tech will meet the lofty expectations for artificial intelligence during the busiest week of the earnings season. About 180 S&P 500 companies — more than 40 per cent of its market capitalisation — are due to report their results this week.
Lower rates had earlier appeared to be on the horizon after inflation cooled sharply last year. But a string of reports this year showing inflation has remained hotter than expected has raised worries about stalled progress. Worries about “sticky” inflation are one of the reasons strategists at Stifel are encouraging investors to stay cautious. Stocks generally look more expensive, in part because of a frenzy on Wall Street around anything related to artificial-intelligence technology.
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