Rising bond yields can be positive for stocks if two criteria are met. On the recent selloff, we take a “buy the dip” mentality, esp. for tech mega-caps.
Big Tech’s blockbuster earnings results, Trump’s intention to ban TikTok from the US and 85% of S&P 500 companies beating 2Q earnings estimates caught our attention this week.
46% of S&P 500’s market cap will report 2Q results next week. Narrow market breadth and fairly expensive valuations imply that some profit-taking could be due, should management guidance proves underwhelming.
Global equities triggering overbought levels for first time since March, US jobs beat for May, OPEC’s agreement to extend oil production cuts caught our attention this week