S&P500 Tech v Real Estate Sector

22/07/2024

S&P500 Tech v Real Estate Sector

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The ASX200 experienced a choppy week, ultimately closing up +0.2% following Fridays triple-digit loss as tensions between the US and Iran took a turn for the worse. The local index was threatening to break out toward fresh highs on Thursday before yesterday’s -1.5% sell-off, leaving the market stuck in the 8600-9000 trading range where it’s now looked comfortable for more than a month. The rate-sensitive stocks continue to weigh on the ASX with retail and real estate continuing to drag the local index back despite the best efforts of the miners which saw the materials sector gain +4.3% through the week, with more set to come on Monday.