Get Ready for a Tech Rally Dow industrials down, tech stocks up. That was this morning’s trend as the market’s worst month since March 2020 drew to a close. Tech shares boosted the Nasdaq Composite in response to bullish calls from Wall Street. Citi upgraded its outlook on both Netflix (NASDAQ: NFLX) and Spotify (NYSE: SPOT), causing each stock to jump higher at the open. Other tech stocks impressed, too. Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT) continued their recoveries that began on Friday. Amazon (NASDAQ: AMZN) was up as well following a steep decline earlier in the month. Overall, the S&P traded for a moderate gain, which was a great sign for bulls given how poorly the last few weeks have gone. “Mostly, this week will be all about whether the correction low is already in or whether last Monday’s intra-day low is again challenged and breached,” explained Leuthold Group chief investment strategist Jim Paulsen. “The longer the S&P stays above last Monday’s low or moves even further away on the upside, the more that calm will return, and fundamentals may again start to dominate emotions in driving the market.” (...continued below...) |
Tidak ada komentar:
Posting Komentar