Nasdaq Nears 13-Year High as Technology Becomes Loved
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Technology stocks are back.
A four-day rally in the Nasdaq 100 Index has pulled the gauge within 0.1 percent of erasing a 7.5 percent selloff from earlier this year. Exchange-traded funds that buy computer and software shares absorbed $1.1 billion of fresh cash last week, more than any other industry tracked by Bloomberg. That’s a reversal from earlier in 2014 when investors were taking money out of the ETFs.