Seeds of a Stock-Market Recovery Sown in Tech’s Catastrophe Week
- Average stock has best back-to-back weekly gains since 2020
- Hedge funds unwind risk, cautious stance seen advancing upside
A trader works on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
They’ve been safety stocks, a pie-in-the-sky growth trade, and a play on fortress profit margins that has been vacuuming up cash for a decade. Now megacap technology names have morphed into something else: market dogs.
All things considered, that’s not the worst news for bulls.