This year, the S&P 500 and the Dow Jones Industrial Average are up 11.6% and 1.6%, respectively, as of June 7. More notably, chip designer Nvidia, following bullish sales projections after positioning itself as a leader in AI, became one of the few companies valued at more than US$1 trillion ($1.35 trillion). As the hype drove punters to place big bets on Nvidia and smaller bets on other tech counters, the techheavy Nasdaq was lifted by more than a third in the year to date before dipping to gain 26.2% as of June 7.
Markets appear disjointed from worsening economic fundamentals. Experts show what investment to avoid and where to look in 2H2023
Despite fears of a recession, many stock market investors have chosen to look ahead, beyond or away at what is happening in the broader real economy and chase after the latest hot stocks.
