Tech-to-Defensive Sectors Rotation
The rotation out of high-flying technology shares is benefiting other market sectors like healthcare, real estate, and consumer staples.
Too little corroboration in the last 3 days to call a trend (5 articles). Watching for it to gain traction.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
"Part of it is value. GDP is solid, the labor market continues to churn along and, in a lot of places, there's evidence that consumer spending is reaccelerating."
"The S&P 500 healthcare and consumer staples indexes each rallied, while declining chipmakers kept the tech index in negative territory. 'What has been behind the move into these non-tech names? Part of it is value,' said Ross Mayfield, investment strategy analyst at Baird."
"Six of 11 major S&P 500 sectors moved higher, with consumer staples rising the most at 1.9%. With highly priced tech shares coming under pressure recently, investors have shifted focus to other areas of the market."
"The rotation out of high-flying technology shares has helped other areas of the markets that have lagged this year, including healthcare, real estate and consumer staples."
"The rotation out of high-flying technology shares has helped other areas of the markets that have lagged this year, including healthcare, real estate and consumer staples."