It was a tale of two indexes this week on Wall Street. The tech-heavy Nasdaq notched a series of record closes and largely brushed off elevated bond yields on its way to a weekly win. The Dow, on the other hand, traded in a tighter range as investors weighed ever-changing U.S.-Iran rhetoric. The blue-chip index is headed for its fourth-straight weekly loss. The S&P 500 sits somewhere in the middle, eking out a weekly win as oil prices remain a steady focal point.
2 Beaten-Down Tech Sectors Finally Rallying
It's not a matter of 'if' tech makes the spotlight, but 'when' tech makes waves. This week, Bitcoin (BTC)-adjacent and quantum computing stocks stole some headlines after a summer spent languishing on the charts. BlackBerry (BB) earnings impressed, while options traders loaded up on Micron Technology (MU).
Elsewhere, Rocket Lab (RKLB) cleared a key trendline, Spotify Technologies (SPOT) stock flashed a bullish signal, and UiPath (PATH) pulled back to a historically bullish trendline.
Wall Street Sees Deals Galore
There were some notable deals made this week that we're also monitoring. Instacart parent Maplebear (CART) linked up with
Meta Platforms (META) and Dollar General (DG). Vertiv (VRT) expanded its
data center cooling capabilities. Circle Internet Group (CRCL) received a cash injection from Binance, while Akamai Technologies (AKAM) made it
official with Anthropic.
Get Ready For October
October is within our sights, and we have the quantitative data and contrarian signals ready for investors to get a head start. In the meantime, try not to get bogged down in negative headlines, as long as the S&P 500 holds these key levels.
