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Live Nasdaq Composite: Tech Bulls Wrestle Back Control in Chip-Led Rally
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The Nasdaq rebounds 1.2% Monday as a U.S.-Iran ceasefire eases geopolitical tension following last week's brutal 5.2% weekly loss.
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Comcast (CMCSA) jumps 23% on a planned two-company spinoff, while MicroStrategy (MSTR) pivots to sell Bitcoin to raise $1.25 billion.
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Tech funds shed a record $9.3 billion last week as AI spending concerns and OpenAI's IPO delay rattled investor conviction.
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Last week’s turbulence in the tech sector left a mark on fund flows. Technology funds absorbed a record $9.3 billion in outflows according to Deutsche Bank. The trend captures just how quickly sentiment shifted as AI spending concerns and the OpenAI IPO delay news rattled investor conviction.
U.S.-focused funds bore the brunt of the exodus, shedding $8.5 billion, while global funds attracted $14.4 billion in fresh capital, a deliberate rotation away from concentrated U.S. tech exposure. Overall equity positioning slipped slightly below neutral, suggesting the market’s most enthusiastic bulls are taking a step back to reassess rather than doubling down at current levels.
This article will be updated throughout the day, so check back often for more daily updates.
The U.S. and Iran agreed Sunday to pause hostilities and restore free commercial transit through the Strait of Hormuz following a weekend of military exchanges that had threatened to derail the broader peace process. For a market that spent much of last week pricing in escalating risk, the ceasefire development is a welcome development heading into a week that will test whether last week’s selloff was a healthy reset or the start of something more prolonged.
Here’s a look at where things stand as of pre-morning trading:
Dow Jones Industrial Average: 52,143 Up 0.52%
Nasdaq Composite: 25,632 Up 1.3%
S&P 500: 7,413 Up 0.81%
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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