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S&P 500 Rally Hides ‘Warning Flags,’ Says Citi Wealth CIO
S&P 500 Rally Hides ‘Warning Flags,’ Says Citi Wealth CIO
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The S&P 500 and Nasdaq 100 reached record highs last week, but Citigroup's Wealth Division CIO Kate Moore warns of underlying risks. Analysts have slashed earnings growth projections from 13% to 7.1% this year, while market concentration around the Magnificent 7 tech stocks raises concerns.
"There are warning flags not yet affecting investor sentiment," Moore told Bloomberg, expressing discomfort with the rally's sustainability. She notes potential economic cooling could accompany Fed rate cuts, creating a less favorable environment for risk assets.
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