We’ve said the rally can run for now and broaden out, with AI a key theme - BlackRock

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BlackRock said Thursday that upward market momentum in U.S. stocks should carry on through the 2024 trading year, based on the prediction that the Federal Reserve will begin loosening monetary policy....

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Why? Inflation will likely near the Fed’s 2% target this year, and the Fed is set to start cutting interest rates. So we upgrade broad U.S. stocks – our index level view plus AI theme preference – to overweight on a tactical horizon of six to 12 months.” BlackRock, which remained overweight U.S. equities, stated. The firm added that it remains neutral in its portfolio allocation and stated that it is ready to pivot once the market narrative shifts. However, on a more granular level, when incorporating AI, the firm says it is overweight as it thinks AI beneficiaries can still grow and gain while earnings growth looks robust. While no names were specifically mentioned in the investor note, market participants can always shift their focus towards exchange traded funds that offer exposure to the space. See below a group of AI focused ETFs and their 2024 returns.  Global X Artificial Intelligence & Technology ETF (NASDAQ:AIQ) +1.2% YTD. GX Robotics & Artificial Intelligence ETF (NASDAQ:BOTZ) +1.3% YTD. ALPS Disruptive Technologies ETF (DTEC) -2.4% YTD. Goldman Sachs Innovate Equity ETF (GINN) -1.1% YTD. iShares Robotics and Artificial Intelligence Multisector ETF (NYSEARCA:IRBO) -5.4% YTD. Artificial Intelligence and Robotics ETF (NASDAQ:ROBT) -3.8% YTD. iShares U.S. Tech Breakthrough Multisector ETF (TECB) +5.1% YTD. iShares Exponential Technologies ETF (XT) -4.2% YTD. Robo Global Artificial Intelligence ETF (THNQ) +1% YTD. Roundhill Generative AI & Technology ETF (CHAT) +4.6% YTD.   More on Artificial Intelligence  AIQ: Positioned For Strong Gains Next Year If You Like AI BlackRock likes tech, AI, and value as inflation concerns continue 2024 will be a pivotal year for artificial intelligence - Deutsche Bank Seeking Alpha’s Quant Rating on Global X Artificial Intelligence & Technology ETF Dividend scorecard for Global X Artificial Intelligence & Technology ETF","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2408637273"}