How Big Tech Has Powered Global Stocks

📆 11/3/2019 11:30 AM
📰 WSJ

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Profits at Facebook, Alibaba and others are driving a fresh rally in technology shares, helping boost stock markets and showing the allure of rapidly growing companies even as the global growth outlook dims

Booming profits are driving a fresh rally in technology shares from New York to Hong Kong, helping boost stock markets and showing the allure of rapidly growing companies even as the global growth outlook dims.

Companies including Facebook Inc., Netflix Inc., Alibaba Group Holding Ltd. and Rakuten Inc. have risen more than 25% this year, well outpacing the gains of the stock indexes on which they are listed. The advance is a marked turnaround from the final months of 2018, when tumbling technology shares wiped out trillions...

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So the tech sector is the one looking the brightest now.

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