Mario Tama/Getty Images) This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
The broad consensus is that inflation fears are driving investors out of tech stocks this week.
But CIO David Bahnsen says that overvalued tech stocks have flown too close to the sun.
He thinks that the sell-off is healthy, inevitable, and nowhere near over.
What began as a sell-off among tech stocks on Monday spilled over into the rest of the market on Tuesday, with the Nasdaq down 2% at the market s open and the Dow Jones Industrial Average following closely behind.
Hello everyone!
Welcome to this weekly roundup of Investing stories from deputy editor Joe Ciolli. Please subscribe here to get this newsletter in your inbox every week. Getty Images / Jack Taylor
Hello and welcome to Insider Investing. I m Joe Ciolli, and I m here to guide you through what s been happening in markets. Here s what s on the docket:
For our Rising Stars of Equity Research list, we selected 19 young analysts 35 and under covering a wide range of sectors from gaming to natural gas. The group hails from top Wall Street firms including Bank of America, JPMorgan, and Morgan Stanley.
The US economy is poised to grow at its fastest pace since 1984. With a recovery that brisk, expect plenty of strange developments over the next few months. Doug Mills-Pool/Getty Images; Samantha Lee/Insider
Economists expect the US economy to grow at its fastest pace since 1984 this year. Insider senior correspondent Aki Ito digs into what led to the boom, and what it means going forward for an American populace still feeling the unique effects of a historic downturn.
Read the full story here:
This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
GS says US GDP growth will likely peak this quarter and decelerate for the rest of the year.
It sees growth remaining above consensus estimates and trend, which can delay a shift to defensives.
Meantime, global growth continues accelerating, which benefits stocks that follow economic trends.
US GDP growth is likely to peak this quarter and decelerate throughout the rest of the year as fiscal stimulus and economic reopening tailwinds reach their maximum impact and begin to dwindle away, according to Ben Snider, a strategist at Goldman Sachs.