If US Tech Stocks Fall, Is It Time To Buy?
@JC888:
US market fell on Fri, 11 Aug after US’s July 2023, Producer Price Index (PPI) report was out. The hotter-than-expected July 2023, PPI : Pushed 10-year Treasury note higher by 8 basis points to 4.16%. Sank rate-sensitive Mega cap growth stocks. When market closed for the week: DJIA: closed +0.3% higher but was off session highs. Health & Energy stocks led Tech stocks fell. S&P 500: came in at -0.1% at closing bell. The index is barely above its 50-day moving average. Nasdaq: fell by -0.6%. What was worse though, it broke support at its 50-day moving average. US July 2023 Producer Price Index (PPI) Data. On a YoY basis, PPI was up 0.8%, above the 0.7% consensus. Prices (excluding food, energy and trader) moved up by 2.7% YoY, unchanged from previous month’s data. The Fed references