Nvidia’s (NVDA) quarterly results spurred a market rally, and many investors remain incredibly enthusiastic about the AI and technology sector. Nvidia and the rest of the Magnificent Seven hold such significant value in the S&P 500 (^GSPC) and influence over the broader market that some analysts Some are wary because of how influential they are.
Brad McMillan, chief investment officer at Commonwealth Financial Network, joins Yahoo Finance to discuss how the market will respond to investor enthusiasm and what’s next for the Federal Reserve and the economy. .
Mr Macmillan explained that despite the risks of overextension, he remains bullish on the economy, saying: “One of the things I’ve said all along is there’s not going to be a recession. It will continue to grow. As long as the job market is strong…as long as people are employed, as long as people feel good, people will continue to spend, which is over 70% of the economy. In fact, we see it accelerating over time. “There are a lot of big demographic reasons. I don’t see that changing. I’m pretty optimistic about the future of the economy and the country as a whole. ”
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Editor’s note: This article was written by Nicholas Jacobino