CNBC
2024.02.13 00:24
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Nvidia rally is fueling FOMO in the overall market, Evercore's Julian Emanuel warns

Nvidia's rally is causing a fear of missing out in the market, according to Evercore's Julian Emanuel. Clients are more worried about being underinvested than overexposed. Emanuel warns of similarities to the dot-com boom and highlights excitement around artificial intelligence and the US avoiding a recession. He predicts a potential 13% pullback in stocks this year and suggests considering defensive sectors. His year-end target for the S&P 500 is 4,750, implying a 5% loss from current levels.