- Tech stocks slumped while more than 300 S&P 500 constituents rose in the latest session, and Treasurys rallied.
- The Kobeissi Letter says U.S. stock market strength is broadening even as investors pull back from the semiconductor industry's hottest trade, the memory chip space.
- The rotation pits a memory chip selloff against improving market breadth, which MarketWatch frames as either a warning sign or a new set of winners.
Quotes
“The U.S. stock market is showing signs of broadening strength even as investors retreat from one of the semiconductor industry's hottest trades”