Brendan McDermid/Reuters
- Tech stocks are likely to enjoy further gains after starting 2023 on a tear, according to LPL Financial's top market strategist.
- Cooling inflation and signs of a job-market slowdown should propel the tech sector higher, Jeffrey Buchbinder said.
- The tech-heavy Nasdaq Composite has jumped 15% this year thanks to expectations the Federal Reserve will soon end its interest-rate increases.
Tech stocks have started 2023 on a tear – and the rally is unlikely to peter out anytime soon thanks to cooling inflation and a weakening job market, according to LPL Financial.
The broker-dealer's chief equity strategist said Wednesday that he's expecting the sector's early-2023 rally to carry on thanks to economic data that increases the likelihood of the Federal Reserve pausing its war against inflation.