Don’t Feel Bullied by the Stock Rally

<p>The stock market may be off to a great start in 2023, but investors should be “mindful about not being bullied” by the rally, says Wealth Enhancement Group’s Nicole Webb.</p> <p>She warns that it won’t last.</p> <p>The S&amp;P 500 is up 7% so far this year, while the tech-heavy Nasdaq 100 has surged roughly 15%. Webb, a senior vice president and financial adviser at the firm, joined the <em>What Goes Up</em> podcast to discuss her views on the market and the speediness of the recovery.</p> <p>“To us fundamentally, does technology make sense from a valuation standpoint?” she said. “Much of this rally in mega-technology—or if you even want to just call it a Nasdaq rally year to date—it’s a little bit of an unwinding of the selloff of last year, probably closely followed by a bit of a FOMO rally.”</p> <p>“We’re not bullish on the stickiness of this as we don’t see any type of Fed pivot” from rate hikes in the near term.</p><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>