Tech has been pushing the S&P 500 higher even as some cracks start to emerge in the market outlook.
eked out a 0.12% gain to close at a record for the fifth session in a row. For the week, the major averages were mixed, with the blue-chip Dow posting its third losing week in four, while the S&P and Nasdaq notched their seventh up week in the last eight, buoyed by the recent rally in tech.
"There's really these two themes … investors are trying to play this year," NB Private's Shannon Saccocia told CNBC's"Closing Bell" on Friday."One has been the secular AI theme and then one has been this idea of manufacturing, reshoring and, frankly, continued strong economic growth." "We are seeing a little bit of weaker economic data and maybe you're getting a breather or a sigh that perhaps this … reacceleration from a manufacturing and industrial perspective is slower to move than what we're seeing from an AI standpoint," she added.
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