According to an investment director at Swiss fund management firm GAM, next week could turn out to be crucial for tech investors looking to re-enter the stock market. Julian Howard, director of multi-asset investment at GAM, said the week starting December 12 will be a “super week for a potential turning point” for tech stocks. Several sets of macroeconomic data are expected to be released next week, including US inflation. The consumer price index, a broad measure of the cost of goods and services, will be released on December 13. a trend,” said Howard, who manages more than $2 billion at GAM.” Once we get the expectation that inflation will ease, the Fed can start to act.” The US central bank raised interest rates to a range of 3.75%-4% and expected will raise rates by 50 basis points later this month, meanwhile, the annualized inflation rate appears to be heading lower after falling to 7.7% in October from 8.2% in September. When asked on “Squawk Box Europe” where investors should be looking to put their money, Howard said “it has to be large-cap technology.” The tech-heavy Nasdaq Composite is down about 25% this year. because the Federal Reserve has raised borrowing costs, but those stocks will benefit if the Fed loosens its tightening policy, Howard said. [The Nasdaq] could reverse very, very well once we get a little bit of relief,” he added, describing Big Tech as “the epicenter of interest rate uncertainty because it has these kinds of revenue streams. the most sensitive long-term.” However, according to Ben Jones, director of macro research at Invesco, the Nasdaq’s “amazing” 9.1% gain over the past month is unlikely to sustain. a bear market rally,” he said. Jones expects the stock market to fall further in the first half of 2023 after companies report earnings. earnings report falling as the economy contracts. don’t think we’re positioning or pricing for th at the moment.”