According to Bank of America Merrill Lynch, tech saw $2.3 billion inflows this week, its second-highest weekly inflows ever. The S&P 500 and Dow Jones Industrial Average have yet to surpass previous highs hit this year, though positive consumer sentiment and strong economic data have helped buoy markets. On Monday, S&P Dow Jones Indices said it would add Twitter to the S&P 500 and Netflix Inc. to the S&P 100. However, investors are running the risk of getting caught on a deep tech selloff by focusing on an “owning tech, trading everything else” strategy, BAML said. The Nasdaq Composite has risen nearly 11% year to date, while the S&P 500 and the Dow Jones Industrial Average have gained 2% and 4%, respectively.

Source: Wall Street Journal June 08, 2018 21:10 UTC