Posted on: May 28, 2021 Posted by: Betty Lee Comments: 0

The Charging Bull or Wall Avenue Bull is pictured within the Manhattan borough of New New York, January 16, 2019.

Carlo Allegri | Reuters

The S&P 500 may quickly head to a brand new excessive if tech shares can act as a booster to the broader market as an alternative of a drag.

For the week, tech has gained 1.3%, although it was barely adverse Thursday. For the 12 months, tech is among the three worst sectors, up simply 5.6% versus the 11.8% acquire within the S&P 500.

“The query is was {that a} damaged bounce in these names and is it nearly over, or may they maintain a transfer over the following few weeks which might additionally maintain sentiment for the S&P to hit new highs heading into the Fed assembly June 16,” stated Scott Redler, associate with

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