Wall Street is on track for its third straight day of gains, with major large-cap indices extending records as investors remain optimistic about corporate earnings and upcoming rate cuts.
Wall Street kept driving equity valuations higher on Friday, extending the momentum from Thursday when all major U.S. benchmarks closed at record highs following the Federal Reserve's rate cut.
The Russell 2000, which tracks small caps, rallied on Thursday, outpacing large-cap benchmarks as investors piled into interest-rate-sensitive stocks a day after the Federal Reserve cut rates by 25 basis points and signaled more easing ahead
Small-cap and blue-chip stocks advanced in Wednesday morning trading on Wall Street, while technology names lagged and the S&P 500 hovered near record levels as investors braced for the Federal Reserve's interest rate decision.
Investors withdrawing from stock market, but not technology. Tech-themed ETFs had $3.42B inflow, led by XLK, QQQ & SMH. Valuations high, prepare for volatility.
There's a lot of love out there right now for two household names that are currently leading the tech and retail industries. But when you dig into the divergent paths and also compare them to their peers, some good old fashioned prudence might be order.
