Nvidia, Tesla and Meta are helping power a growth-stock surge that has challenged BlackRock and Goldman Sachs
Some of the biggest names on Wall Street including Goldman Sachs and BlackRock have projected 2023 to be another year for favoring value stocks over their growth peers, amid rising interest rates and looming recession risks.US growth stocks are on track for their best quarterly run in three years relative to the value segment, despite fears of an impending economic downturn and the recent financial-sector turmoil sparked by the largest bank collapse since 2008.
Growth stocks have outperformed this quarter mainly due to a retreat in inflation and market interest rates, according to Jamie Dutta, a market analyst at multi-asset online broker Vantage. "The banking crisis probably means we are very close to the end of the rate hike cycle as financial conditions tighten. That could hasten rate cuts sooner so those growth companies with strong balance sheets and low debt loads will be sought after," Dutta told Insider in emailed comments.
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