Bloomberg Surveillance
Bloomberg Surveillance TV: July 25, 2024
Jul 25, 2024
Waldemar Szlezak discusses Google and tech capex, Libby Cantrill on Trump-Harris campaigns, Anastasia Amoroso's rotation trade. Market analysis of tech stocks, financial services for private wealth, US election strategy, investing in digital infrastructure and fiber connectivity in smaller cities.
23:19
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Quick takeaways
- Tech sell-off attributed to stretched technical conditions and declining earnings surprises.
- Economic uncertainties impacting market sentiments require cautious navigation by investors.
Deep dives
Tech Sell-Off and Unwinding Trends
The recent tech sell-off, leading to the worst day for S&P 500 since December, was attributed to stretched technical conditions and declining earnings surprises. The tech sector was significantly overbought, with some top stocks failing to meet market expectations, resulting in severe market corrections. Investors are witnessing a shift in market dynamics as lofty valuations and weakened earnings forecasts lead to a cautious stance on tech stocks.
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