Nasdaq Bull Market: Here's the Best Investing Move You Can Make Right Now
Concerns about higher inflation and a weakening economy pushed indexes into a bear market back in 2022, but last year, things began to look brighter. Many companies made efforts to cut costs and focus on their most profitable businesses, spurring a rebound in earnings. E-commerce and cloud computing giant Amazon is a perfect example of that, and the stock has climbed nearly 70% over the past year.
And investors became more optimistic about the environment in general amid signs that interest rates could come down this year -- in a recent Reuters poll of 100 economists, half expect two rate cuts in 2024. Though rate cuts may come later than expected and may be fewer in number than economists originally predicted, a stabilization of rates or any reduction is a sign the economy is moving in the right direction. And that's positive news for companies and investors.
As a result of all of this, indexes climbed last year and extended gains this year, with the technology heavy Nasdaq recently soaring to a record and confirming the presence of a bull market. These are exciting times, but with many technology stocks racing higher, you may be wondering if it's still a good idea to invest -- or if it's better to wait for these movers and shakers to get cheaper. Let's talk about the best investing move you can make right now.
Source Fool.com
