Goldman Sachs Exchanges cover image

Goldman Sachs Exchanges

Taking stock: Can the US rally continue?

Jul 2, 2024
David Kostin, Chief US equity strategist at Goldman Sachs Research, discusses the sustainability of the US stock market rally, including the dominance of AI companies, Nvidia's underperformance, market valuations, interest rates, election uncertainties, investor positioning, demand for US stocks, and the transition from active to passive funds.
18:10

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Investments in AI by leading companies are driving market growth through increased earnings and share prices.
  • Concerns about sustainability and high valuations in the market, especially with the focus on AI-centric companies.

Deep dives

AI Investments Driving Market Performance

Investments in AI by companies such as Nvidia, Amazon, Microsoft, Google, and Meta have been significant drivers of market performance, with these companies increasing earnings by 84% compared to the rest of the market's 5% rise. Their focus on CapEx and R&D, accounting for 22% of all such investments nationally, has led to share price increases and overall market growth.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode