Following the broad market index’s worst weekly loss since April last week, the S&P 500 saw a rise on Monday, driven by a rebound in tech companies.
Benchmark increased by 0.6%, and the Nasdaq Composite gained 0.8%. The Dow Jones Industrial Average increased by 0.15%, or 60 points.
Keith Lerner of Truist stated, “We’re experiencing a reversion within the reversion.” “There’s been a significant shift back towards growth and technology equities.
After abrupt movements, you’re witnessing a natural transition. After retreating 8% the previous week, Nvidia surged 4%.
Major tech companies Apple, Alphabet, and Meta Platforms all saw increases of more than 1% in their stocks.
The S&P 500’s poorest performer was Crowdstrike, which fell by almost 11% and increased from nearly 18% last week.
Source (CNBC)
