BofA says Trump will backstop stocks this year, but to closely watch one key area of the market.FinanceBofA says Trump will backstop stocks this year, but to closely watch one key area of the market.

BofA says Trump will backstop stocks this year, but to closely watch one key area of the market.

January 20, 2025 1 min read

Michael Hartnett, an investment strategist at the bank, said that while President-elect Donald Trump’s influence and policies could provide a safety net for the stock market, upside is constrained by high concentration in a handful of stocks, elevated valuations, and stretched positioning by investors.

Hartnett highlighted that the bank’s December fund manager survey showed investors are holding a record overweight position in US stocks.

Source: MARKET.BUSINESSINSIDER

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