Last week, a rotation started to form from the technology sector into value: sectors that are still discounted such as the energy, financial services, and retail sector. Over the course of the week, the S&P 500 Value ETF (SPYV) gained nearly 5%, while the S&P Technology Sector ETF (XLK) gained a mere 2%. This can be attributed to concerns over how much tech stocks, especially the bigger FAANG names, have run up since the market’s March lows. Notably, the XLK is approaching its pre-corona, all-time high again, whereas the SPYV is still lagging that by a considerable 15%. Now this…
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