News Formal

Tech's on a roll. But some market pros aren't convinced

  • 📰 CNBC
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

'That enthusiasm for aggressive technology-oriented stocks in the last couple of months is exactly what you get in a bear market rally,' an investor tells CNBC.

One of 2022's worst-performing sectors is making quite a turnaround — investors are interested in tech again, after shunning it for the better part of last year. The tech-heavy Nasdaq Composite has so far been this year's best-performing Wall Street index, having gained about 14.5% since the start of the year. The recent buzz around artificial intelligence has driven much of that feelgood sentiment on tech.

JPMorgan has also turned more bearish on the tech sector, just months after it turned positive on the sector in October. "Technology is moving from secular to cyclical. Despite our view of peaking bond yields from October, when we advised to close the shorts on tech, the sector is unlikely to be a sustainable leader; it is still priced not far from all-time highs. This is not a great starting point," JPMorgan's strategists, led by Mislav Matejka, wrote in a Feb. 13 note.

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:

 /  🏆 12. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

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

Watch CNBC's full interview with Piper Sandler's Michael Kantrowitz on market outlookMichael Kantrowitz, chief investment strategist and head of portfolio strategies at Piper Sandler, joins 'Squawk Box' to discuss today's CPI report numbers, forecasts about further drops in earnings expectations, and the consequences from the lag effect of inflation. Hey isn’t this the guy that chats market with that neo nazi kid LarpaFartners? You won't let me
Source: CNBC - 🏆 12. / 72 Read more »

CNBC Daily Open: U.S. stocks shrug off hot inflation numbersA hotter-than-expected CPI reading for January caused U.S. Treasury yields to increase. But stocks were remarkably resilient. Credit card debt is at the highest ever
Source: CNBC - 🏆 12. / 72 Read more »

CNBC Daily Open: U.S. stocks don't seem concerned about inflation, disregard jumping retail salesJanuary's retail sales, like the months' jobs report and consumer price index, were higher than expected. But stocks don't seem concerned anymore.
Source: CNBC - 🏆 12. / 72 Read more »