John Feeney on market rally
From Feeney: Fundamentals are extremely supportive of the market rally · · CNBC Television
“Some of the rally that we have seen is because of a small set of stocks. A.I. driven innovation wave has impacted valuation here. This earnings season is pretty telling. We will watch for not just what the company delivered, but guidance.”
On , John Feeney, Vice President, General Counsel & Secretary at RBC BEARINGS INC, spoke about market rally during Feeney: Fundamentals are extremely supportive of the market rally on CNBC Television.
About John Feeney
JoAnne Feeney, a partner and portfolio manager at Advisors Capital Management, discussed market conditions in a September 2024 interview. She stated that fundamentals are "supportive of the rally" and pointed to opportunities in industrials and healthcare where earnings are improving after higher interest rates. Feeney said the earnings season has been "pretty good" and emphasized that investors should focus on future guidance rather than past performance, noting that her firm owns 40 to 50 stocks and looks for growth at a reasonable price (GARP) names, value, and income. Feeney described expectations for inflation as "modest" and said the longer-term trend appears to be moving in the right direction. She commented that Federal Reserve Chair Powell's remarks signaled more attention to the labor market, which could give the Fed "wiggle room," but she added that she does not expect a lot of rate cuts and believes the Fed will be cautious. Regarding specific picks, Feeney said she views the cybersecurity space as "almost like a utility" due to the increasing cost of hacks, and noted that Palo Alto Networks adjusted its business model to help companies overcome switching costs.