The stunning tech rally that boosted Meta and Nvidia by over 100% will fizzle out soon, top RBC strategist says
That outperformance has helped to lift stocks more broadly, with just a handful of listed companies accounting for nearly all of the S&P 500's returns. The index is up 9% in 2023.is resolved – but in the longer-term, she can't see much upside for stocks the rest of the year.
"If you pull the debt ceiling as a risk off the table I think at the very least it is going to quelch some of the pessimism," she told Bloomberg. "Some of my models have pointed to upside of around 4,300 — I can get there from a valuation perspective and on one of my sentiment models in general, though I do feel pretty good about my base case of 4,100 on the S&P," Calvasina added.
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