Wall Street’s Big Tech enthusiasm getting stronger
Wall Street's enthusiasm for the tech sector seems to be going strong with the pandemic still in full swing. – EPA pic, July 12, 2020.
TECH stocks were going strong even before Covid-19, but behavioural shifts during the pandemic have lifted the sector further into the stratosphere, leaving the broader stock market far behind. The tech-dominated Nasdaq Composite Index has closed at records in six of the last seven sessions, reflecting investors’ confidence that tech companies benefit from the so-called “stay-at-home” trade even as the market has pummeled airlines, hotels and brick-and-mortar retailers.
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