People are taking this as a signal. In this case, it's kind of pro-growth stock. The Nasdaq has the most growth stocks, and when interest rates stabilize, or go down, people start to think of growth as being worth more.
More Quotes from Ray Rund:
Semiconductors are an area that people saw as the premier growth area in the past. Anytime there's good news, people assume this is going to resume its growth and they rush back in. There's no fundamental pattern that would explain why they're up so much today.Ray Rund
The consumer confidence number dropping gave people a bit of a surprise.
Ray Rund
Dell is still a company that can grow, ... They have the cash. They can buy back shares.
Ray Rund
Intel is the leader in the semiconductor market. They're No. 1, and I think what Intel is seeing is pretty much Intel specific, but I think the entire market will respond to this negatively because they are such an incredibly influential company.
Ray Rund
We're at a funny point in the cycle. The companies have reported that they're seeing some growth for the next quarter, but it's not robust growth, and the valuations on a historic basis are still pretty full. What's driving these stocks is sentiment -- people are afraid that if they miss them now they'll miss a big run-up.
Ray Rund
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Based on Topics: People QuotesWe are ever striving after what is forbidden, and coveting what is denied us.
Ovid
Perhaps even these things, one day, will be pleasing to remember.
Virgil
I don't give the devil credit for creating nothing.
Little Richard