Big Tech’s $2 Trillion Rally Saves Nasdaq From Correction
- Traders are betting Big Tech stocks will keep pushing higher
- Focus turns to Nvidia earnings as Nasdaq flashes warning
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Investors were given plenty of opportunities to fret about the outlook for technology giants this earnings season. Instead, they doubled down on a strategy that has worked all year: piling into the biggest stocks.
That buying spree has fueled an abrupt U-turn in the Nasdaq 100 Stock Index that went from correction territory to a 15-month high in a matter of three weeks, adding roughly $2 trillion in market value along the way.