January is usually considered an uncertain month for stocks that have recently seen gains in the stock market due to the end of the tax seasons. Many investors tend to take profits during this time in order to utilize them for tax purposes. However, recent reports have suggested that the Nasdaq index may be able to defy this trend and post gains in January.
Nasdaq has been at an all-time high since the end of the pandemic in March 2020. Investors have been turning to technology stocks, which has been driving up the market index. With tech stocks as the major gainers in the market, the Nasdaq has the highest odds of ending with gains in January.
According to Brad McMillan, the chief investment officer for Commonwealth Financial Network, “The Nasdaq is the best pick for January”. He noted that since the tech-driven sector is still in its prime, there are no predictions of further gains in the market. Also, there is still uncertainty surrounding the stock market due to the pandemic and impact of the vaccination process.
Notably, the Nasdaq is also home to many well-established tech companies such as Apple, Microsoft, Amazon, and Google. These tech stocks have been performing well recently. Analysts also predict that these companies will be able to ride the wave of general investor confidence in technology for some time.
In addition, the Nasdaq is expected to benefit from the boom in interest by retail investors in different types of tech stocks. This demand is mainly driven by the fact that these stocks have been relatively undervalued compared to other equity categories. These stocks also come with a degree of risk which is why investors tend to be more confident investing in established tech companies.
To conclude, the reports of the Nasdaq having the best odds of gains in January appear to be accurate due to its strong appetite for tech stocks. Investors who wish to take advantage of potential gains should consider investing in tech stocks from the Nasdaq and benefit from its potential to post gains in January.
January is usually considered an uncertain month for stocks that have recently seen gains in the stock market due to the end of the tax seasons. Many investors tend to take profits during this time in order to utilize them for tax purposes. However, recent reports have suggested that the Nasdaq index may be able to defy this trend and post gains in January.
Nasdaq has been at an all-time high since the end of the pandemic in March 2020. Investors have been turning to technology stocks, which has been driving up the market index. With tech stocks as the major gainers in the market, the Nasdaq has the highest odds of ending with gains in January.
According to Brad McMillan, the chief investment officer for Commonwealth Financial Network, “The Nasdaq is the best pick for January”. He noted that since the tech-driven sector is still in its prime, there are no predictions of further gains in the market. Also, there is still uncertainty surrounding the stock market due to the pandemic and impact of the vaccination process.
Notably, the Nasdaq is also home to many well-established tech companies such as Apple, Microsoft, Amazon, and Google. These tech stocks have been performing well recently. Analysts also predict that these companies will be able to ride the wave of general investor confidence in technology for some time.
In addition, the Nasdaq is expected to benefit from the boom in interest by retail investors in different types of tech stocks. This demand is mainly driven by the fact that these stocks have been relatively undervalued compared to other equity categories. These stocks also come with a degree of risk which is why investors tend to be more confident investing in established tech companies.
To conclude, the reports of the Nasdaq having the best odds of gains in January appear to be accurate due to its strong appetite for tech stocks. Investors who wish to take advantage of potential gains should consider investing in tech stocks from the Nasdaq and benefit from its potential to post gains in January.
