he Nasdaq 100’s biggest rally in 19 months on Friday came with a big question: Are days like these becoming an advertisement for equities that push the market into a euphoric phase?
According to Frank Cappelleri, a senior equity trader at Instinet LLC, the answer is no, “it’s still quiet.”
For investors looking for evidence of distortion, however, it wasn’t hard to find: So large was the rally in the biggest companies -- Facebook Inc., Amazon.com Inc., Alphabet Inc., Microsoft Corp. and Apple Inc. -- that without them the S&P 500 Index’s gain went from 21 points to almost zero.
Source: Bloomberg Pro Terminal
Trader-G.Bozhidarov
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