U.S. Tech the S&P 500.SPX and the Nasdaq made new highs on Thursday. The European tech stocks SX8P are dropping 1.3% these days, but are still hovering around 24-year highs.
According to Bank of America’s cutting-edge flow chart, tech stocks recorded their largest influx since March in the week to Wednesday, totaling $2.1 billion.
UBS CIO Mark Haefele and his group say it turned into robust revenue forecasts across a number of AI “beneficiary” and “enabler” names using inflows on Thursday.
Today, Friday there’s a strong view on this sector, with AI as the key driving force for expectations that international income will upward push 20% year-over-12 months in 2024.
“Small-cap shares must gain disproportionately from predicted fee cuts, given their greater reliance on floating-price debt as compared to their larger peers, factors out that without the tech zone’s stellar performance, stock markets would look markedly different, tech sector has really helped the stocks gain strength.
“With technology doing the heavy lifting, one has to wonder how strong this sector can hold up the marketplace,”.
While the potential for a correction is there, looking for dips in tech-heavy indices is more sensible than looking to buy the market high.
