Fundamentals expected to continue driving U.S. equities higher - UBS
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UBS analysts believe that fundamental drivers will continue to push U.S. equities higher. The S&P 500 and Nasdaq Composite recently reached record highs, with Nvidia becoming the world's most valuable company. Softer-than-expected U.S. retail sales data for May suggests a 'soft landing' scenario for the economy, which is positive for equities. Market pricing indicates potential interest rate cuts from the Federal Reserve, which could support growth and small-cap stocks. The spike in enthusiasm around artificial intelligence (AI) is expected to drive broader gains in equities, with big tech and key AI segments likely to benefit. Nvidia's rise has already contributed to a 14% jump in the S&P 500 this year. UBS analysts anticipate a semiconductor-led AI rally in the second half of the year and beyond.

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https://www.investing.com/news/stock-market-news/fundamentals-expected-to-continue-driving-us-equities-higher--ubs-3489060