Posted 2/26/2024, 3:43:17 PM
Stocks Face Potential Correction as Investors Await January Inflation Data, Evaluate AI Claims
- PCE data for January will be released this week, an important gauge of inflation watched by the Fed
- Stocks could see a correction on the upcoming inflation figures and potential bursting of the Nvidia/AI hype bubble
- Companies merely using "AI" as a buzzword without substantive usage should be viewed cautiously by investors
- Berkshire Hathaway's massive cash pile signals fewer potential big deals in market; transformational deals more likely in mid/small caps
- Investors should dig into details before believing company statements about benefiting from or using AI