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US stocks (^DJI, ^GSPC, ^IXIC) are trading higher after Tesla (TSLA), Microsoft (MSFT), and Meta Platforms (META) kicked off "Magnificent Seven" earnings.
John Hancock Investment Management co-chief investment strategist Matt Miskin joins Market Domination with Julie Hyman and Josh Lipton to discuss his investment strategy amid Big Tech earnings.
Miskin says he "still" likes Big Tech, explaining, "The earnings are coming in at 20% growth year over year, and they're looked at poorly."
"Right now, you're seeing a market rotation, and really, that is the name of the game," the strategist says, outlining that money is getting "pulled out of the technology sector and redeployed all over global markets" as "it's less about earnings; it's more about macro."
"It's really tracing a bit of a reacceleration of the economy, but that looks like a mini cycle to us. We don't want to be too tactical [or] too cute with it; we want to stick with high-quality companies with good earnings," Miskin adds.
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This post was written by Naomi Buchanan.