4 days ago • Posted by Paul de La Baume

#Tech outperforms #Nasdaq #trading $QQQ $SPY

It has been our house view that tech would be the biggest beneficiary of the banking stress. But since SVB, Credit Suisse has created a larger risk, which has been reduced by now, thanks to the rapid coordinated actions of regulators. It reminds investors that regulators do not have the risk appetite to put the current system in danger. Treasury yields fell off a cliff and that is supporting tech stocks, boosting their valuation multiples. But also, earnings and newsflow continue to be strong, such as earnings for Adobe last night. Earlier we also had the news of more layoffs and cost reductions for tech mega caps Meta and Apple.

#Stocks #Technology