The Nasdaq continues to outperform as tech
climbs near session highs (+0.9%).Crude
has bounced higher, as it is now posting a gain of 1.1% at $127.96 per barrel.
Technology is a standout again today thanks in
large part to the move in Dell following its earnings report.For the session the S&P technology sector
is up 0.8%, which puts it well ahead of the broader market.
With the material pullback in financial stocks
in the wake of the subprime mess, technology has recently supplanted financials
as the sector with the heaviest weighting in the S&P 500.It comprises 16.66% of the S&P 500 versus
15.97% for the financials.
The tech sector is still down 4% for the year,
but it is up 5.7% for the month.