When in Doubt… - Buy large-cap tech; that’s playing out again today. Amazon is today’s torch bearer of a still red-hot space after taking a bit of a breather last week. For those counting, the “retail” giant has increased its market cap more than $550bn YTD – even after hearing on a daily basis the strength of the FAAN(M)G’ers, the #’s are staggering. A slate of tech (MSFT, Intel) and retail (Tesla) earnings are set to come later this week. Today’s highlight and subsequent lowlight came via an initially promising report on the efficacy of AstraZeneca’s Oxford vaccine. The news was promising but data remains small as does the test cases – the stock faded but the overall market has held up ok, although the troubling divergence between the Nasdaq and Russell 2000 persists.
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