A change of tone in the stock market leaves the S&P 500 eyeing important support levels, and energy will have to pick up the baton as tech momentum wanes.
A change of tone in the stock market leaves the S&P 500 SPX eyeing important support levels, and energy will have to pick up the baton as tech momentum wanes.
That’s the view of Jonathan Krinsky, chief market technician at BTIG, who in a note to clients published over the weekend observed that Apple, which has a 7% weighting in the S&P 500, has broken its uptrend. Krinksy said he remained cautious on the Nasdaq, whose big tech constituents have provided propulsion for the broader market’s near 17% gain for the year so far. The Invesco QQQ exchange traded fund QQQ, which tracks the Nasdaq 100, had just recorded a rare six-month winning streak but after last week’s retreat had broken its uptrend and was now displaying signs of weakening momentum.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Slovenia's flood damage could top 500 million euros, its leader saysSlovenia has faced the worst-ever natural disaster in its history, Prime Minister Robert Golob said Saturday, after devastating floods caused damage estimated at half a billion euros ($550 million).
Les mer »
Mexico finds nearly 500 US-bound migrants in roadside compound — more than half are childrenOf the migrants, 277 of them were children or adolescents — most of whom were traveling with relatives. However 52 of the minors were unaccompanied, the agency said.
Les mer »
Researcher names recently discovered 500-million-year-old sea worm after 'Dune' monster | CNNA University of Kansas paleontologist exploring an area known for its fossils recently uncovered a never-before-discovered ancient sea worm – and showed off her “nerdy” side while naming it.
Les mer »
Stock market outlook: S&P 500 could triple on secular bull market cycleThe S&P 500 could triple to 14,000 by 2034 as secular bull market cycle takes hold
Les mer »
Stock-index futures advance after worst week for the S&P 500 since MarchBuyers are reasserting their dominance early Monday, after the S&P 500 shed 2.3% last week, its biggest weekly decline since March.
Les mer »
Stock futures are little changed as Wall Street comes off a losing week: Live updatesLast week was the worst for the S&P 500 and Nasdaq Composite since March.
Les mer »