Big Tech’s $4 Trillion Boomerang Powers S&P 500 to New Heights
Bloomberg.com • • business
Key Points:
- Big Tech stocks have driven the S&P 500 Index to new highs, boosting investor confidence in the ongoing equity market rally despite geopolitical risks from the war with Iran.
- Since the S&P 500 bottomed on March 30, the technology sector has shifted from the worst-performing group to the best-performing within the benchmark.
- An index tracking the "Magnificent Seven" tech giants rose 20% since late March, recovering from a 17% decline since October.
- Microsoft exemplifies this rebound, with shares increasing 19% after a 34% drop from late October to late March.
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