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Tech Sector Rallies as Stocks Celebrate Fresh Chinese Stimulus

July 18, 2023
in Trade Tube
Reading Time: 1 min read
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Equities rallied on Monday, rebounding from Friday’s selloff and buoyed by the latest stimulus measures out of China. The Dow recovered its year-to-date gains, while the S&P 500 had its best day of the month so far. Hasbro (HAS) was the best performer on the S&P 500 after reporting a solid quarter thanks to sales of its Transformers toys. Royal Caribbean (RCL) was the worst performer on the S&P 500 after cutting full-year earnings guidance on a stronger dollar and higher expenses. The technology sector was the market leader Monday with high-momentum large-caps the biggest winners. Among them, Apple (AAPL) added 2.3% and Google (GOOGL) jumped 2.2%.

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