Tech Rebound Post-Tariff Bottom
Tech-related stocks are rebounding, indicating a potential recovery in the market.
Too little corroboration in the last 3 days to call a trend (28 articles). Watching for it to gain traction. It's spreading across NDX & SPX — a theme crossing asset classes.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
"US stock futures edged higher on Friday, August 21, as investors looked to recover from a sharp sell-off in the previous session"
"Prior to their earnings, Microsoft and Amazon were trading below 20 times earnings expected over the next 12 months, roughly in line with the S&P 500. Microsoft's average multiple over the last five years is 28 times estimated profits and Amazon's is 34 times."
"Analysts have noted that heavy selling in recent weeks was focused on concerns about when the huge sums invested in artificial intelligence would see returns, rather than fundamental problems in the sector."
"In early Asian trading, the Kospi rose 16.8% to 6,531.71, recovering from losses earlier in the week. It had plummeted more than 16% on Tuesday and Wednesday on a sell-off of technology stocks"
"UBS said that this recent sharp sell-off in momentum stocks may be nearing its end, as most of the risky / leveraged positions have been unwound in the recent sell-off. Hedge funds have cut their long positions in momentum and semiconductor stocks by over 5% of the total Gross Market Value, brining the net positioning in these Semiconductor names back to levels last seen in April."
"The Nasdaq composite climbed 0.9%."
"Tech stocks boosted Wall Street as investors prepared to close the book on a month of losses for the S&P 500 and the Nasdaq, but the strongest quarterly percentage gains for all three major U.S. stock indexes in years"
"S&P 500, Nasdaq futures rise as tech stocks rebound"
"The NASDAQ's impressive 1.87% surge highlights continued investor appetite for technology stocks, while the Dow posted modest gains."
"The U.S. stock market is recovering some of its losses for the week on Thursday, as the roller coaster for artificial-intelligence companies turns back upward."