Technology stocks just had their worst month since March, but some big events could draw attention back to the group in October.
The S&P 500 rose 3.3 percent between Friday, September 21, and Friday, September 28. It was the biggest weekly gain since the end of June 29 – July 2.
Ever heard of Pinduoduo? GSX Techedu, or Bilibili? They’re among a handful of technology stocks breaking out to new highs as investors embrace China’s flourishing digital economy.
In the last week, companies like Walt Disney (DIS), Allergan (AGN), Electronic Arts (EA) and KLA Tencor (KLAC) beat estimates, only to drift or fall. The tepid response comes amid fears about a renewed trade war with China, plus buyer fatigue after four months of solid gains.