The September jobs report exceeded expectations with the addition of 336,000 jobs last month, nearly double the amount anticipated on Wall Street.
Add that ‘goldilocks’ figure to minimal wage inflation, and the scene is set for a soft landing for the economy, says Wedbush’s Daniel Ives, a 5-star analyst rated in the top 2% of the Street’s stock pros. This, in turn, is great news for the tech sector. In fact, with earnings season about to kick off, Ives thinks Wall Street is poised to be caught off-guard by the strength of reporting, laying the groundwork for a big end-of-year surge.
“Our view is that 3Q earnings over the coming weeks will be an eye-opener for the Street, as the transformational AI growth and stabilizing IT spending environment will create a massive tech rally heading into year-end, during which we expect tech stocks to be up another 12%-15% in 4Q,” Ives…
