Stick with value stocks until everyone is talking about them — and they are still under the radar, this Wall Street firm says.
BofA says investors continue to overlook value stocks, which work particularly well in a new era of higher interest rates and inflation.
Wall Street's main indexes began the trading day higher on Tuesday as technology stocks rebounded from a previous session's decline, ahead of Nvidia's results and an important inflation report that could influence interest rate expectations. The Dow Jones Industrial Average climbed 177.8 points, or 0.33 percent, to 53,594.92 at the opening bell.
The S&P 500 increased 23.8 points, or 0.31 percent, to 7,676.66, while the Nasdaq Composite climbed 168.5 points, or 0.65 percent, to 26,148.71. Tech stocks saw a bounce in anticipation of Nvidia's upcoming earnings report and as investors awaited insights on inflation's potential impact on monetary policy.
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