13.6 C
Munich
Friday, August 6, 2021

Another Big Stock-Market Rotation Is Under Way, and Tech Is on Top Again

Must read

Business Groups Call on Biden to Restart Trade Talks With China

WASHINGTON—Nearly three dozen of the nation’s most influential business groups—representing retailers, chip makers, farmers and...

Canada’s Evan Dunfee nabs bronze in men’s 50km race walk at Tokyo Olympics – National

Canada’s Evan Dunfee nabbed the bronze medal in a surprise finish in the 50-kilometre race walk at the Tokyo Olympics Friday. Dunfee overtook Spain’s Marc...

California to mandate COVID-19 vaccines for health workers

SACRAMENTO, Calif. (AP) —...

Andrew Scherr, Former Executive With Collapsed Insurers, Receives Five-Year Prison Sentence

A former executive of a group of collapsed insurers was sentenced to five years in...

Shares of big technology companies have been flying past the rest of the market.

After languishing for months, the group has staged a resurgence with several tech behemoths hitting records in recent sessions.

Apple Inc. shares closed at a record Friday, after notching their first new high since January earlier in the week. Microsoft Corp. and Amazon.com Inc. shares also jumped to records Wednesday and Thursday, respectively.

“I’m very bullish on companies that can provide strong organic growth and predictable growth,” said Dev Kantesaria, founder of Valley Forge Capital, who said he recently added to his Amazon holdings. “Certainly the big technology companies will be able to do that.”

Some investors and analysts say they have become less optimistic that the U.S. economy’s recovery will sustain its strong momentum. Lackluster economic data over the past week and fears about the Delta variant of the Covid-19 virus have stoked volatility in stock and bond markets.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Business Groups Call on Biden to Restart Trade Talks With China

WASHINGTON—Nearly three dozen of the nation’s most influential business groups—representing retailers, chip makers, farmers and...

Canada’s Evan Dunfee nabs bronze in men’s 50km race walk at Tokyo Olympics – National

Canada’s Evan Dunfee nabbed the bronze medal in a surprise finish in the 50-kilometre race walk at the Tokyo Olympics Friday. Dunfee overtook Spain’s Marc...

California to mandate COVID-19 vaccines for health workers

SACRAMENTO, Calif. (AP) —...

Andrew Scherr, Former Executive With Collapsed Insurers, Receives Five-Year Prison Sentence

A former executive of a group of collapsed insurers was sentenced to five years in...