A longtime stock market bear is rethinking his view after this year's dizzying rally

Business and Finance Business and Finance

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Sat, December 7, 2024

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[ Sat, Dec 07th 2024 ] - Business Insider

A longtime stock market bear is rethinking his view after this year's dizzying rally

^{Published on 2024-12-07 17:41:00 - Business Insider}

Economist and longtime market bear David Rosenberg is coming around after this year's blistering stock market rally. While he says his updated view doesn't amount to "throwing in the towel," he admits that the technology-fueled AI boom is requiring him to reframe his thinking on the broader stock market.

David Rosenberg, a prominent economist, has revised his bearish outlook on the stock market due to the significant impact of the AI boom. In a recent interview, Rosenberg highlighted how advancements in artificial intelligence are driving productivity gains and economic growth, potentially leading to a more optimistic market environment than previously anticipated. He noted that AI's ability to enhance efficiency across various industries could counteract some of the negative economic pressures he had earlier forecasted, such as high inflation and rising interest rates. Rosenberg's change in perspective underscores a broader recognition among market analysts that technological innovation, particularly in AI, could be a pivotal factor in shaping future market trends, prompting a reevaluation of investment strategies.

Read the Full Business Insider Article at:
[ https://markets.businessinsider.com/news/stocks/stock-market-outlook-bear-rethinking-view-ai-boom-david-rosenberg-2024-12 ]

N@N

A longtime stock market bear is rethinking his view after this year's dizzying rally