the global view: with AI stocks, patience is key 05.09.24

Key points:
Ira Epstein observes the impact of high interest rates and potential Federal Reserve actions.
Highlights Nvidia's (NASDAQ: NVDA) temporary price surge, advising strategic investment in AI.
Provides insight into seasonal stock market volatility, predicting a stronger market by November.
Ira Epstein from Linn & Associates states that the market is now witnessing the full impact of high interest rates. He suggests that the Federal Reserve might consider raising rates by 50 basis points but will wait to avoid alarming the market. The current JOLTS numbers draw significant attention.
Ira comments on the rise and potential of AI, particularly spotlighting Nvidia. He says that despite temporary price surges, investors should remain patient with AI stocks, using market dips to gradually accumulate shares. He underscores the commodity nature of technology investments.
Epstein observes seasonal volatility in the stock market, especially in September and October. He advises caution and suggests that holding cash while making small, deliberate stock purchases may be wise. He predicts a healthier market by November, led by a Santa Claus rally.
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