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Wall Street Week Ahead: Big tech stocks may face post-election headwinds, no matter who wins

  • 📰 Reuters
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  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 97%

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Some investors are betting the technology and communications stocks that drove a massive rebound in U.S. markets this year will face a tougher slog in coming months, no matter whether Republican President Donald Trump or Democratic challenger Joe Biden wins Tuesday's election...

now make up approximately 23% of the total weight of the S&P 500, according to S&P Dow Jones Indices, giving their gyrations an outsized impact on broader markets.

“It has become more difficult for mega-cap tech to surprise on the upside,” analysts at UBS Global Wealth Management said in a note Friday. A shift to value stocks “is increasingly likely over the next 12 months,” said Eduardo Costa, who runs hedge fund Calixto Global Investors, LP.

 

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Wall Street rebounds as market eyes tech results, strong U.S. dataU.S. stocks closed higher on Thursday, with the technology heavyweights rallying ahead of major earnings reports and upbeat domestic economic data calming investor jitters about surging coronavirus cases. Yup and then Apple dropped 5% haha. Ouch. Stimulus is more than enough Buy buy buy
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