Raymond James Investment Management reposted this
Head of Advisory Solutions & Market Strategy; Chief Market Strategist at Raymond James Investment Management
Breadth is making a comeback. We continue to see a rotation in the market as the increase in earnings breadth translates into increased price breadth. I have advocated for clients to consider leaning into these changes to build better balance in portfolios, and I’m even more adamant about that today. There’s clearly some #volatility as we start a data-packed week, headlined by the August payrolls report on Friday. But through all the volatility and changing narratives, earnings have been strong, guidance has been positive, and margins have expanded (and not due to price gouging). I continue to see opportunities across “AI 2.0” companies as capex remains solid, in aerospace & defense, and in higher quality companies down market cap as well as in international developed and emerging markets. Thank you Jonathan Ferro, Lisa Abramowicz, and Annmarie Hordern for having me back on Bloomberg Surveillance this morning. Check out our discussion below where I dive deeper into the resiliency of corporate and economic growth, how to play increasing market breadth, and how to think about potential volatility around labor market data. The interview starts at the 54:15 mark in the broadcast: https://lnkd.in/dzsww8is Raymond James Investment Management