Financial Giant Piper Sandler Bullish on Stocks Despite Fears That Bubble Will Burst – Here’s Why

Financial giant Piper Sandler is constructive on equities amid concerns about an artificial intelligence bubble and a soft labor market, according to one of the firm’s top executives.

Michael Kantrowitz, the investment bank’s chief investment strategist, tells CNBC in a new interview that the equities market is witnessing its first broadening in about four years.

“I think why we’re climbing these worries – the macro data and the breadth of earnings data are the ladder that is helping us climb a lot of these concerns. And I think those concerns are being manifest in the rotation in the market we’re seeing, really, since October.”

Kantrowitz says the soft jobs data helped convince the Federal Reserve to cut rates, which is part of the bullish story that’s unfolding.

“I think the last couple years of stimulus in the form of the Fed cutting rates, the 10 Year coming down, mortgage rates coming down, oil prices coming down, and all the positive fiscal stimulus we’re going to see this year, it’s a long list.

And that’s why we made the call last September that we’re going to finally see the macro economy broaden out, the earnings broaden out and see the first sustainable rotation in four years.” 

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The post Financial Giant Piper Sandler Bullish on Stocks Despite Fears That Bubble Will Burst – Here’s Why appeared first on The Daily Hodl.