Big tech has soared this year, bringing the broader market along with it. Yet investors hoping that the good times will keep rolling should be more concerned about banks’ woes than tech’s wins.
In response to that, and excited by the potential profits from artificial intelligence, investors have flocked to well capitalized tech stocks. Friday brought some good news for the beleaguered sector. Wells Fargo’s earnings were better than expected, making the stock one of the best performers in the S&P 500 for the day, while Citigroup’s upbeat results offered hope that its turnaround is succeeding.
The so-called Magnificent Seven—Apple , Amazon.com , Alphabet , Meta Platforms , Microsoft , Nvidia , and Tesla —account for some 28% of the S&P 500 by market capitalization. With all but Meta and Telsa valued at well over a trillion dollars, they dwarf JPMorgan’s $436.4 billion market capitalization.
Roque argued that indicates the shares could break through their $300 level of support, and fall back to $250. He said that Morgan Stanley’s chart shows similar issues, and that the stock could drop to $60.On Oct. 5, Mark Newton, FundStrat’s head of technical strategy, suggested that investors steer clear of regional banks for the moment, though he said they may finally be at least close to hitting a low after having “performed miserably” recently.
Nederland Laatste Nieuws, Nederland Headlines
Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.
Stock market today: Asian markets slip as rising yields in the bond market pressure stocksShares have fallen in Asia after a retreat on Wall Street as the vise tightened from rising yields in the bond market. Hong Kong's benchmark dropped more than 2% as investors were disappointed by the latest Chinese economic data. U.S. futures edged higher and oil prices advanced. On Thursday, the S&P 500 lost 0.6% and the Dow shed 0.5%.
Lees verder »
Nio Stock Forecast: CPI surprises market as NIO has trouble overtaking $9 price levelNio (NIO) stock appears stuck around the $9 price level, close to the 21-day Simple Moving Average (SMA) on Thursday. Initially, NIO shares advanced
Lees verder »
Jim Cramer's top 10 things to watch in the stock market ThursdayThe consumer price index for September comes in hotter than expected.
Lees verder »
5 things to know before the stock market opens ThursdayHere are the most important news items that investors need to start their trading day.
Lees verder »
Investors are asking too much from the stock market, says this strategist.Critical information for the U.S. trading day
Lees verder »
The stock market likes to climb a wall of worry -- but now that's crumblingMarket-timers are eagerly buying this rally — a signal for contrarian-minded investors to step aside.
Lees verder »