The tech based NASDAQ remains similar to the more broad-based S&P500 although its bond yield-inspired swings have been slightly amplified as growth stocks feel the brunt of rising yields i.e. the high Beta interest rate sensitive NASDAQ has corrected -38% whereas the S&P500 has fallen -28%. The index ended last week down another -1.5% and while there are no signs of acceleration lower, any follow-through strength after days of optimism has clearly been elusive.
- No change, we still believe US tech stocks are presenting good value around current levels and a strong bounce is close at hand.
MM remains bullish on the US Tech Sector into Christmas
Add To Hit List
