S&P 500 decline led by tech, small-caps surge as market realigns.

From FX Empire: 2024-07-19 10:22:00

The S&P 500’s decline was led by the information technology and communication services sectors, causing the Nasdaq to underperform. Some momentum stocks took a hit, but there was spectacular breadth under the surface recently, according to Chris Verrone, head of technical and macro research at Strategas. American Express, Microsoft, and Comerica experienced declines, while SLB and Arm Holdings saw gains. CrowdStrike fell over 8% due to a global IT outage. Market rotation hints at a short-term bullish outlook for small-cap and value stocks as investors move away from tech giants to sectors like financials and energy. Tech sector volatility may pose challenges ahead.



Read more at FX Empire: S&P500 and Dow Jones: Small-Caps Surge as Market Realigns – Analysis