Tech Stocks Pulled Bacl – Tom Essaye Quoted In Barron’s

Hedging Up Ahead Of The Results: Tom Essaye Quoted in Barron’s

Tech Stocks Pulled Back. The Nasdaq Fell 0.9%.

“You’ve got arguably the most important stock in the whole market producing earnings tomorrow, so I think that you’re just seeing some people reduce a little bit of exposure into that earnings print on the chance that perhaps it isn’t as fantastic as everybody expects it to be,” Sevens Report Research’s Tom Essaye told Barron’s in a phone interview.

Essaye said that last Friday’s selling flowed through to today as traders expressed worries that inflation isn’t going to come down as fast as they were previously pricing in.

“I don’t think it means a lot to be honest,” Essaye says. “Because if Nvidia posts good earnings tomorrow, all this is going to be undone relatively quickly.”

Also, click here to view the full Barron’s article published on February 21st, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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