Reported 8 months ago
The technology sector has been driving most of the S&P 500 index's gains in 2024, especially in June. In the past week, investors have been injecting funds into tech funds at an unprecedented rate, particularly boosting demand for AI winners like Nvidia, making it briefly surpass Microsoft as the world's most valuable company. Around $8.7 billion flowed into tech funds in the week ending Wednesday, as investors continue to increase their investments in tech funds to chase the upward trend. The interest in US tech stocks surged due to recent market declines in Europe, according to Bank of America's strategist Michael Hartnett.
Source: YAHOO