Bank of America Chief Investment Strategist: Early June May See Profit-Taking Wave in the Stock Market

```htmlGolden Ten Data reported on May 15 that Michael Hartnett, Chief Investment Strategist at Bank of America, stated that due to investors flocking excessively to the stock market and rising inflation risks, a wave of profit-taking is likely to occur in early June. The Hartnett team pointed out in their report that while the stock market continues to hit new record highs, price pressures are spreading widely throughout the US economy, with increases seen in energy, transportation costs, and rents. Furthermore, they believe that a series of key dates next month could intensify market caution, including the upcoming OPEC meeting, the opening of the World Cup, the G7 summit, and the first Federal Reserve FOMC meeting under Kevin Walsh’s tenure, all of which could become triggering factors. Hartnett said: "The rush of funds into stocks and tech shares is likely to be mostly completed in the next few weeks, making early June an ideal time for partial profit-taking."```