People are concerned about higher interest rates ahead and they think the best way to protect themselves is to own growth stocks that may not be as hurt by higher rates,
More Quotes from Alan Ackerman:
Investors feel uncomfortable about the visibility ahead.Alan Ackerman
I think it's a constructive move. He's an experienced hand who is clearly effective in dealing with bright, energized thinkers. I don't expect the Senate to have many problems with this nomination.
Alan Ackerman
They pay a dividend that's very, very attractive and they've had growth that's outperformed the SP 500.
Alan Ackerman
That has helped the techs today (Wednesday), ... They have a reasonably upbeat forecast.
Alan Ackerman
The jobs number was fuzzy, even though on balance it helped to perk up the market, ... Based on that number, the market is now factoring in that the economy is not weak enough for the Federal Reserve to cut interest rates in its Sept. 24 meeting.
Alan Ackerman
It gave sellers a chance to lighten up a bit, ... On balance, this just appears to be investors taking a breather.
Alan Ackerman
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