RBC: Still the most optimistic about the U.S. stock market this year, focusing on AI-related software

Norman Villamin, Chief Investment Officer of Reyl Bank, stated that he remains optimistic about the U.S. stock market this year, but expects lower returns and recommends focusing on structural opportunities in AI-related software. At the same time, the bank is optimistic about gold, predicting that the price will rise to $3,000 per ounce. Villamin believes that the development of AI will transition from hardware to software, and investors need to adjust their portfolios. Additionally, he expects U.S. inflation to rebound in the second half of the year, with interest rate cuts proceeding at a pace slower than market expectations, advising investors to actively manage bond risks