MarketWatch: “Apple only Big Tech stock ‘really hitting’ the S&P 500 as ‘little’ about August’s market slump appears worrisome, says DataTrek”

By datatrekresearch in IN THE NEWS

Excerpt from MarketWatch quoting DataTrek co-founder Nick Colas:

.... "U.S. stocks have been rattled in August by a rise in real interest rates and bond-market volatility, yet “very little about this selloff strikes us as fundamentally worrisome,” according to DataTrek Research. 

Real yields, which are adjusted for inflation, of more than 2% on 10-year Treasurys are “unheard of over the last decade,” said Nicholas Colas, co-founder of DataTrek, in a note emailed Tuesday. “We are there now,” he said. “Eventually these will settle out, and after that we expect stocks to find their footing and start moving higher again.”

While volatility in the U.S. stock market has recently increased, it remains below its long-term average. And August’s slump in equities is not entirely due to Big Tech stocks that had driven the market’s rally earlier this year, according to DataTrek. 

“Apple is the only Big Tech company really hitting” the S&P 500, said Colas. “Apple’s weakness aside, US Big Tech has been holding its own during this month’s selloff"....

Full article here on MarketWatch.