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NEWS
Stocks Just Cannot Be Stopped

Titles like this always make people nervous, but we don’t know how else to describe our current environment. Don’t shoot the messenger here, folks. Post-earnings strength drove software stocks higher, and semiconductors rebounded too, pushing the Nasdaq 100 and S&P 500 tech sector to new all-time highs. Lastly, Bitcoin is taking its latest shot at $100,000, while altcoins remain all the rage. 👀

Today's issue covers the tech sector’s fresh breakout, Bitcoin’s potential to (eventually) flip the bond market, and other noteworthy pops and drops. 📰

Here’s the S&P 500 heatmap. 4 of 11 sectors closed green, with technology (+1.83%) leading and energy (-2.41%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $PW, $SMX, $CXM, $VRNT, $CCRN 📉 $AEO, $SNPS, $UNH, $BASE, $APTO*

*If you’re a business and want to access this data via our API, email us.

STOCKS
A Fresh Breakout For Tech Stocks 🥳 

The S&P 500 hit its 56th record high this year, with the U.S. stock market ballooning to 63% of global market cap. That’s up from 60.5% this year, and the next biggest market is Japan…at 5.6%. Needless to say, U.S. stocks are the global leader in risk assets right now. 🌎️ 

Part of the driving force behind that is the U.S. tech sector, which is the largest weighting in the major indexes and the best performer by far since the great financial crisis. And low and behold, the sector is breaking out again to all-time highs.

Below is a roughly one-year chart showing the sector ETF $XLK’s clean breakout above its July highs, as strength in stocks like Apple continues to lead. 📈 

In addition to owning the leaders, traders and investors are targeting stocks like Square, which are just beginning to participate in the bull market of the last two years. Improving business fundamentals is one factor. However, many of these are catching a bid simply because fund managers are running out of “attractive” things to buy at current levels. 💳️ 

It seems like the bull case can be made for just about any stock or risk asset these days, as investors expect the Trump administration’s pro-business push and continued economic strength in the U.S. to drive prices even higher. Time will tell, but for now, the bulls just keep on buying. 🛍️ 

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*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.