Chips Drive a Rebound After the Fed Selloff
The market bounced back from a Fed-induced sell-off on Thursday, but it was news about an Apple price hike that drove most of the strength.
The market bounced back from a Fed-induced sell-off on Thursday, but it was news about an Apple price hike that drove most of the strength.
Money flowed out of tech and into retail, banking, homebuilder and biotechnology on Tuesday.
Semiconductors are leading a bounce, but this is not a market that can be trusted.
Instead of causing concern, the selling in semiconductors triggered vigorous buying.
The most notable shift was increased chatter that the market might be due for a rest.
Pockets of frothy action, covering up broad weakness, leave investors in a ‘tricky spot.’
Rolling updates on negotiations with Iran seem to have lost their meaning.