Tech stocks have been a winning bet, but investors worry it will fade

NEW YORK: A bet on tech companies has been a solid one in the aftermath of the coronavirus-induced market crash, but some investors are questioning whether those stocks can maintain their momentum if jobs do not recover soon.

So far, the Nasdaq Composite has proven more resilient than other broad market benchmarks, in part because it has little exposure to sectors such as energy, retail and travel companies whose shares have cratered 50per cent or more since the start of the year. The S&P is around 8per cent below its own all-time closing high, hit on Feb. 19.

"We really need to make sure that consumers are okay and feeling good within their economic viability," Callinan said.

United States United States Latest News, United States United States Headlines

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

Taiwan eyes US$1.3 billion in foreign tech investment under new schemeTAIPEI: Taiwan hopes a new programme will attract TUS$40 billion (US$1.34 billion) of research and development investment by foreign tech ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Seoul: Stocks surge; up 50% from March lows as techs lead relief rally[SEOUL] South Korean stocks surged nearly 3 per cent to close at a more than three-month high on Wednesday, led by bluechips such as Samsung Electronics and Hyundai Motor and as global economic recovery hopes offset concerns over Sino-US tensions. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »