Bank of America: US stock market rally to be limited until US employment situation shows clear direction
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Strategist Michael Hartnett of Bank of America stated that the US stock market may trade sideways before significant changes in US employment data. Despite the rebound of tech stocks like NVIDIA, concerns arise from the decline in bond yields and bank stocks. Hartnett believes that a clear employment situation will eliminate the uncertainty in the fall, and the current market risk lies in rotation. It is expected that the Federal Reserve may cut interest rates in the coming months, and investors should focus on bond-sensitive industries such as resource stocks and real estate investment trusts
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