Technology Stocks Seen Setting Direction for U.S. Shares
“The U.S. stock market behaves like the information-technology sector,”Jeffrey Kleintop, Charles Schwab Corp.’s chief global investment strategist, wrote Monday in a blog posting. Kleintop cited the gap between cumulative total returns on the MSCI World technology and MSCI USA indexes since 2006. The differential has been no wider than 12 percentage points, according to data compiled by Bloomberg, while the industry gauge has led the MSCI World Index of developed markets by as much as 49 points.
For a story on technology’s ascendancy in the S&P 500 Index, click here.