Broad market stocks experienced slight declines during the day, according to Alexander Morris, CEO and Chief Investment Officer of F/M Investments.
He attributed the movements mainly to profit-taking and some concerns over global politics, but noted that the changes were not significant.
Morris added that the VIX index remains low and equities generally continue to show an upward tendency.
Focus on Fed’s Next Moves
Morris also said that the U.S. Federal Reserve is expected to implement two more rate cuts this year.
He emphasised that Fed Chair Jay Powell is aiming to achieve a “perfect landing” to maintain market credibility. Morris noted that Powell’s primary objective is to keep inflation under control while restoring confidence in the Fed.
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Italian Prime Minister Giorgia Meloni said on Saturday (17 January) that concerns over security in Greenland should be addressed within the framework of NATO, describing a ground military intervention as highly unlikely.
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Elon Musk is seeking up to $134 billion from OpenAI and Microsoft, arguing that the companies profited unfairly from his early support of the artificial intelligence firm, according to a court filing made public on Friday.
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