FILE PHOTO: Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease on the floor at the New York Stock Exchange in New York, U.S., May 26, 2020. REUTERS/Brendan McDermid/File Photo
That is partially because investors have gravitated to a small group of tech-related stocks they believe have the best chance of delivering steady profits in a climate fraught with uncertainty over the coronavirus pandemic and its economic fallout. Tech-related sectors to which those stocks belong have outperformed other sectors by significant margins this year. The technology index, which includes Apple and Microsoft, has climbed about 18%, while the consumer discretionary index, which includes Amazon, has jumped 15%. The communication services index, which includes Alphabet and Facebook, has risen nearly 6%.While U.S.
Most of the market participants are missing the party. That is a bigger issue and that is why this is such a hated rally