Economics
Tech Romance Builds as Microsoft Leads Group to 15-Year High
- Large-cap tech overtakes consumer stocks since September low
- Semiconductors lead with 19% rally, buoyed by consolidation
Tech Stocks Lead U.S. Equities Lower for a Third Day
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Oil’s plunging, drillers are in free fall, retailers can’t find a floor -- so how has the entire U.S. stock market managed to avoid caving in? The reason is technology stocks.
While computer and software makers fell today, they’ve jumped 13 percent in the market’s post-Sept. 29 surge, fueled by investors chasing earnings growth. Gains in the Standard & Poor’s 500 Index’s biggest group have since then surpassed consumer-discretionary companies, an industry that is being driven almost entirely by technology cousins Amazon.com Inc. and Netflix Inc.