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.
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.
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.
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