Dipan Mehta, Director at Elixir Equities, discussed market valuations and the lack of corrections since COVID. He advised caution in banking and auto sectors due to stagnation and potential cyclical downturns. Mehta is optimistic about long-term prospects, particularly in industries like smart meters, but is currently holding cash for strategic investments during corrections.
US stocks: Nasdaq and S&P 500 slip while Dow hits record high ahead of Fed rate decision
Technology stocks pressured the Nasdaq and S&P 500 lower on Tuesday, while the Dow Jones Industrial Average achieved its second consecutive record close. Investors digested