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Recent weakness in the market shouldn't deter investors from finding pockets of opportunity, particularly in artificial intelligence-related companies, according to BlackRock's Kate Moore. The Dow Jones Industrial Average and S & P 500 fell for a second week last week. "I think healthy consolidation after an extremely strong return in the first quarter is completely fair, and doesn't change the fundamentals," Moore said in an interview. Moore sees an opportunity in two of BlackRock's highest-conviction themes: AI-adjacent software and semiconductor companies, and global commodity producers and miners, particularly those related to copper. She expects better breadth in terms of earnings growth this quarter, which should support long-term investor confidence in the equity market.
Persons: Kate Moore, Stocks, There's, Moore, it's Organizations: Dow Jones Industrial, Devices
Stocks won't be hit as badly by weak corporate earnings in 2023 as some think, according to BlackRock's Kate Moore. "There's a decent probability that the super bearish economic and earnings calls for 2023 are not going to prove right," she said to Bloomberg. "There's a decent probability that the super bearish economic and earnings calls for 2023 are not going to prove right. "And I don't think earnings are going to be catastrophic next year." Morgan Stanley's chief stock strategist Mike Wilson warned that corporate earnings estimates were still at least 20% too high for 2023.
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