According to one of Piper Sandler’s senior executives, the financial giant is positive on stocks amid fears about a bubble in artificial intelligence and a weak labor market.
Michael Kantrowitz is the chief investment strategist at the investment bank. He told CNBC, in a recent interview, that this year’s equities markets are experiencing their first expansion in four years.
I think the reason we are climbing up these fears is because the macro-data and the breadth in earnings data has helped us to climb many of these concerns. These concerns, I believe, are manifested in the recent rotation of the markets.
Kantrowitz said the Federal Reserve cut rates because of soft job data, part of a bullish narrative that is unfolding.
“We made the prediction last September, that the macro-economy would finally broaden and the earnings will broaden. We’ll see the first rotation of sustainable value in the past four years.”
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The post Financial Giant Piper Sandler is Bullish on Stocks, Despite Fears of a Bubble Burst. Here’s why may change as new information becomes available.
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