Posted 4/2/2024, 1:36:38 PM
Stocks Surge to Start 2024 as AI and Rate Cut Hopes Drive Major Rally
- Stock market has rallied strongly since November 2023, with major indexes like S&P 500, Dow Jones, and Nasdaq up between 5-10% in Q1 2024
- Rally driven by investor excitement over artificial intelligence (AI) and companies like Nvidia, Meta, Dell seeing big gains
- Anticipation of interest rate cuts by Federal Reserve in 2024 has also increased appetite for stocks
- Cryptocurrencies like Bitcoin have also rallied, recently hitting new all-time highs
- HSBC strategists remain "tactically constructive" on stocks in near term, see rally continuing at least through first half of 2024