News Formal

Stock market outlook: Be cautious on Big Tech despite Nasdaq strength

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Canada News News

Be cautious on Big Tech stocks even though the Nasdaq has been beating the S&P 500 so far in 2023, DataTrek says

to start the year, but a key historical pattern suggests there's reason to be cautious on the tech-heavy index moving forward, according to DataTrek Research.

The Nasdaq could just be catching up after it bottomed later than the S&P 500 last year, DataTrek co-founders Nicholas Colas and Jessica Rabe point out in a Thursday note. Tech sector layoffs also may be improving the earnings outlook for those stocks. In that span, there have been 12 instances where the Nasdaq has outperformed by 5 percentage points or more. In every instance, the Nasdaq then went on to underperform the S&P 500, they said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Dow Closes Lower, Nasdaq Gains After Powell's TestimonyBreaking: Silvergate Capital, one of the top crypto banks, is shutting down. It said it will repay all deposits. hoss_crypto HKCM1 Crypto... 'BANK' 🤣
Source: WSJ - 🏆 98. / 63 Read more »

Stock Market Today: Dow Drops 250 Points in Midday TradingThe four biggest U.S. banks lost $47 billion of market value today, part of a broad rout across financial stocks Maybe employees should be held personally accountable for these losses. 🤑
Source: WSJ - 🏆 98. / 63 Read more »