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While biotech, healthcare, and some software stocks are under pressure, the so-called old-economy sectors – finance, manufacturing, and transportation, are shining. Money never sleeps, indeed. It just rotates from one sector to another.
The Nasdaq 100 is at all-time highs led by the enterprise software giant Microsoft. Google and Amazon are not too far behind – both of them are setting up for potential breakout and have earnings due soon. Apple is back to a trillion-dollar valuation.
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