This week, all eyes are on the Nasdaq as we assess the future direction of tech stocks following their recent downturn. Last week, the Nasdaq experienced a notable 3.5% decline, while the Russell 2000 saw a robust 7.8% increase. This shift indicates a stronger market preference for pro-cyclical value and bond proxy sectors over growth stocks. The broader market's focus appears to be shifting from inflation concerns to growth prospects, bolstered by a slowdown in economic data and expectations for imminent rate cuts.
The key question now is whether tech stocks, which have been central to the Nasdaq's performance, will recover their strength or continue their downward trend. Participate in the poll below on our social media platforms, we'd love to hear your thoughts.
Will the Nasdaq see a rebound this week? Will tech stocks recover, or will the market continue to favour pro-cyclical value sectors?
1. Will the Nasdaq bounce back this week?
2. Will the tech sector continue its downward trend?
3. Will pro-cyclical value stocks maintain their lead?
Stay informed and be ready to capitalise on these trends with Unum Capital. Get in contact with us at tradingdesk@unum.co.za to make sure you can capitalize on these movements.
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