Relatively large moves Monday (up) and Tuesday (down) were followed by the small volatility the rest of the week that has marked almost all of 2017. The NASDAQ jumped 1.4% Monday, the largest gain since Nov 7th as the relatively moderate selling the prior week was offset.
“Tech got beat up unfavorably over the past week or two, but as the group’s earnings remain strong, we expect buyers are coming in to take advantage of the depressed prices,” said Peter Lewis, a managing partner at Murphy Capital Management. “Tech valuations are probably nearly the high end of the band, but if earnings and merger activity keep going, that could bode well for the sector.”
Oil has quietly had a few rough weeks here; this is one steep decline since late May…Continue reading