Apr. 24 at 2:27 PM
For the three major averages, however, the week is shaping up to be mixed. The S&P 500 is on track to end the period flat, while the Dow is tracking for a 0.6% decline. The Nasdaq has risen 0.6% this week.
Cameron Dawson, chief investment officer at NewEdge Wealth, said she expects the market’s leadership to remain constricted.
“This market continues to get narrower and narrower. And once, it was a story of all ‘Mag Seven’ doing well. Now it’s really just a story of semiconductors doing well,” she said on CNBC’s “Closing Bell: Overtime” on Thursday afternoon. “We are having the most cyclical sector in the world — being semiconductors — experiencing super normal growth. The stocks will deliver 100% earnings growth this year. The question is, how do you value that?”
“The real question is how the market digests the super normal growth and if it thinks it can actually continue,” Dawson added.
$SPY $QQQ $DJIA