Photographer: Chris Ratcliffe/Bloomberg
Global FANG Index Just Hit a Record HighBy and
Technology’s dizzying pace is back after a swoon earlier this month, with an index that tracks the FANG stocks and its global peers rising to a record on Monday. The NYSE FANG+ Index -- which covers Facebook Inc., Amazon.com Inc., Netflix Inc. and Google-owner Alphabet Inc., plus six other leaders including Chinese favorites Alibaba Group Holding Ltd. and Baidu Inc. -- is up 20 percent year-to-date, surpassing the gains of the S&P 500 Index. "The trend remains unequivocally bullish on both an absolute and relative basis," MKM Partners technical analyst Jonathan Krinsky wrote in a note highlighted in the MLIV blog.