A rally in Big Tech stocks received most of the credit for driving global markets higher this week. But in the U.S., they couldn’t have done it without a little help from their friends.
As the S&P 500 SPX booked its best weekly advance since early January, one detail set this week apart: All 11 of the large-cap index’s sectors managed to finish in the green for the first time since November, according to Dow Jones Market Data. The S&P 500 managed to clinch its 13th record close of 2024 on Friday, even as information-technology stocks and other sectors associated with Big Tech finished the session in the red, according to FactSet data.
The thoughts and opinions expressed in the article are solely those of the person speaking as of 2/23/2024, and not necessarily those of Sierra and are provided for informational purposes only. Any opinion or estimate contained in this article is made on a general basis and is not to be relied upon by the reader as advice. The reader must make his/her own assessment of the relevance, accuracy, and adequacy of the information contained in this article, and make such independent investigations as he/she may consider necessary or appropriate for the purpose of such assessment.
0082-SI00XLAP 03112024
