Hartnett: The Macro, Momentum And Misfit Trades
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The article discusses the recent surge in the market capitalization of the seven largest tech companies, which briefly exceeded 31.8% of the S&P 500 following strong earnings from META and MSFT. However, this increase was followed by a selloff after the latest payroll data, marking the first 1% drop in the S&P since June. The piece questions whether this marks the end of a rapid market rebound or merely a pause in an overbought market.
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