WOLFE RESEARCH SEES NEAR-TERM PEAK IN TECH RALLY Semiconductors rebounded Wednesday after a prior drop, but Wolfe Research says the broader…
WOLFE RESEARCH SEES NEAR-TERM PEAK IN TECH RALLY
Semiconductors rebounded Wednesday after a prior drop, but Wolfe Research says the broader tech rally may be losing momentum.
Chief strategist Chris Senyek warned that markets look “toppy” in the near term, with tech stocks due for a consolidation after recent gains.
He said further upside likely depends on sharply lower oil prices or a strong Nvidia earnings surprise on May 20.
Senyek also noted rising sensitivity to inflation data, with hotter wholesale price readings already weighing on sentiment.
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