U.S. strategists see November as potential rally month for stocks with tech, small-caps in focus

Bank of America strategists are flagging November as a potentially strong month for U.S. equities, spotlighting technology, small-cap stocks and healthcare sectors. The firm raised its gold forecast to $5,000 an ounce, citing potential macro shocks and inflation resilience, while maintaining overweight positions in AI-exposed names and smaller domestic-facing companies. The outlook reflects a rotation away from bond proxies. Investors are instructed to watch earnings surprises, especially in tech, and liquidity flows as the post-October momentum phase evolves into a new leg of the market cycle.