7% Growth For US? Cathie Wood's Ark Invest Sees Future Far Rosier Than Consensus View Thanks To AI, Blockchain And Other Transformational Tech
Portfolio Pulse from Shanthi Rexaline
Ark Invest's Chief Futurist Brett Winton predicts U.S. real GDP growth could average 7% annually in the current business cycle, driven by transformative technologies like AI, blockchain, and robotics. This forecast surpasses the consensus view and historical growth rates, drawing parallels with past technological revolutions. The SPDR S&P 500 ETF Trust (SPY) saw a slight increase in premarket trading.
February 27, 2024 | 12:04 pm
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The SPDR S&P 500 ETF Trust (SPY) experienced a minor increase of 0.07% in premarket trading, potentially influenced by optimistic economic growth forecasts from Ark Invest.
The slight premarket increase in SPY could be attributed to positive investor sentiment following Ark Invest's optimistic GDP growth forecast, which suggests a strong economic outlook based on technological advancements.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70