Regular Companies Are Finally Beating Tech Stocks
The Dow Jones Industrial Average climbed 1.3% and hit a new record Thursday, while the Nasdaq composite slipped 0.3%, dragged down by concerns about spending at tech giant Oracle. The S&P 500 also rose to a record, but trailed the Dow by 1.14 percentage points, its largest underperformance versus the Dow since February, according to Dow Jones Market Data. “You’re getting a spill over of bullish sentiment in companies outside of tech,” said Joseph Brusuelas, chief economist at RSM.