Tech makes a comeback as Wall Street’s trendy trade

U.S. technology stocks this week took back their title as the stock market’s most profitable bet of the year, and the so-called FANG stocks have regained their shine after investors dumped the high-flying group in December over fears that the decade-old bull market was dying.

The S&P 500 information technology index has surged 3.6 per cent so far this week and is up 16.4 per cent year to date, edging out a 15.4-per-cent gain in the industrial index , which led since February but was held back this week by a slump in Boeing. But the Federal Reserve in January signaled that rate hikes were essentially off the table for the time being, removing Wall Street’s largest source of anxiety.

“We’re in a waiting game,” said Art Hogan, chief market strategist at National Securities. “Neither side wants this to continue much longer. The Chinese economy is slipping and the president wants a victory. Both sides are motivated to resolve this.”After sweeping U.S.

globeinvestor fakenews

Finance Finance Latest News, Finance Finance Headlines

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

Amazon, Google, Facebook forays into banking seen as a threat by RBC’s CEOBig tech companies getting between banks and their customers and selling insights back to them Im not about to shed any tears for banks tbh. You fractional-reserve scam artists were due to get dominated by somebody better eventually. Karma's a beyotch like that
Source: nationalpost - 🏆 10. / 80 Read more »