BofA’s Hartnett Sees Gold, China Stocks as Best AI Boom Hedges
Update: 2025-10-31
Description
Bank of America strategists suggest Chinese stocks and gold as safe havens if tech stocks become overvalued. The S&P 500 is currently trading at 23 times forward earnings, with tech giants leading the surge at 31 times. The market has added $17 trillion since April, driven by AI excitement and strong earnings. Investors are looking ahead to 2026 for potential growth, lower rates, and Trump's potential re-election. Gold is attractive for inflation protection, but recent outflows and trade tensions have caused price fluctuations. Chinese shares have outperformed the S&P 500 this year, but concerns about China's economy have cooled the market. The strategists advise investors to consider Chinese stocks and gold for portfolio diversification.
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