Tech stocks, Mag 7 are 'long duration assets': Jason Katz

UBS Managing Director Jason Katz provides a market check, noting divergent trends with the Dow down while the S&P 500 and Nasdaq climb, led by chipmakers.

Jason Katz, UBS Managing Director and Senior Portfolio Manager, provides a detailed market check, noting divergent trends with the Dow down while the S&P 500 and Nasdaq climb, led by chipmakers. Katz explains that tech stocks are long-duration assets, valued on future cash flows, and are under pressure from elevated interest rates. He anticipates a substantial increase in year-over-year earnings.