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European stocks opened higher on Monday, with France’s CAC 40 index gaining 0.4%, Germany’s DAX up 0.3%, and the U.K.’s FTSE 100 trading flat. The Stoxx 600 index also showed positive movement, which indicates a cautious uptrend in both sector and stock gains.
Meanwhile, Infrastructure Capital Advisors’ Jay Hatfield believes that the S&P 500 still has room to grow in 2024, projecting a year-end target of 5,500, which corresponds to a potential 9% rise. However, he foresees the market remaining stagnant in the near term as investors wait for the Federal Reserve to begin cutting rates.
In other news, tech stocks are still showing promise, with Citi’s “high-conviction” list showcasing global tech stocks with potential upside. Investors interested in exploring this further can consider taking a look at the list, as tech stocks have already had a good run and may have further room to grow.
Overall, European stocks seem to be on an upward trajectory, and with tech stocks showing potential, it’s an interesting time for investors to keep an eye on the market.