Next week’s inflation data could derail a market that appears to be priced for perfection, ahead of the Federal Reserve’s meeting later this month. The November consumer price index set to release Wednesday is expected to show an increase of 0.2% and 2.6% month on month and year over year, respectively, according to FactSet. If…
Traders work on the floor of the New York Stock Exchange during morning trading on November 26, 2024 in New York City. Michael M. Santiago | Getty Images U.S. stock futures were relatively unchanged on Wednesday night following a record day for stocks. Futures tied to the Dow Jones Industrial Average fell 16 points, or…
Yuichiro Chino | Moment | Getty Images Technology stocks powered to new highs on Wednesday as the tech-heavy Nasdaq Composite rallied 1% and investors poured into key software and megacap players. The Technology Select Sector SPDR Fund (XLK) advanced 1.5%, rallying for its fourth straight day since mid-October and knocking out its previous high touched…
Don’t look now, but tech could be in real trouble. Wolfe Research technical strategist Rob Ginsberg pointed out that the Technology Select Sector SPDR fund (XLK) in June hit its highest level relative to the S & P 500 since March 2000, when the dot-com bubble and first-wave internet stocks peaked. Since then, the XLK…