Investors should diversify out of AI stocks: Strategist

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US Equities (^GSPC, ^DJI, ^IXIC) have been mixed on Monday morning as Wall Street moves into the second half of the year. The first two quarters of 2024 have been dominated by the tech sector and AI names, but can those rallies continue?

Charles Schwab chief global investment strategist and managing director Jeffrey Kleintop joins Morning Brief to give insight into how markets may play out in the second half of the year and whether investors should adjust their positioning regarding AI.

Kleintop says that investors should only pull out of their AI names "when they can see that there are opportunities elsewhere, there are a number of other parts of the market that are much more attractively valued and have increasing earnings momentum. One of the things that we've seen over the last four or five quarters is that AI stocks have driven almost all the earnings gains".

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Nicholas Jacobino