Tech Stocks Headed for Another Solid Week
Investors have seen a familiar story pan out this week. Mega-cap tech stocks have powered benchmark indexes higher, despite concerns about market breadth.
The Nasdaq Composite is up 1.5% since Monday’s opening bell, with futures pointing to further gains today. Nvidia has led the charge, surging after the semiconductor giant said the U.S. government had assured the company it would soon get a license to sell its H20 chips in China.
The next big test for the tech-powered rally could come later this month. Google owner Alphabet, IT giant Microsoft, Facebook parent Meta Platforms, and iPhone maker Apple are all set to report quarterly earnings the week beginning July 28.