Bank of America’s head of global research, in conjunction with the head of their private bank, has just given a major midyear update to clients. The message: we are at the start of a bull market. While they think the recovery might be a little bumpy, in the longer term, they believe there is a great economy on the other side and long-term investors would do well to get into the market on down days in the immediate future.”
FINSUM: Inside these broader predictions was another interesting one- so if stocks are going to rise, which sectors gain the most? BOA’s answer was that despite being overbought, tech still seems likely to see the most gains because the pandemic has accelerated areas that benefit them the most, including automation, cloud-computing, and live streaming.