Energy Rebounds While Tech Stocks Pull Back
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 14 August 2023
⏱️ 9 minutes
🧾️ Download transcript
Summary
Discover why energy stocks rebounded and tech stocks pulled back.
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Transcript
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| 0:00.0 | Be wealthy and smart, episode 1232. If y'all know what I mean put your hands up and declare with me |
| 0:14.0 | Yeah, I'm full of bed e'e'e'e. |
| 0:17.0 | I'm gonna live the good life |
| 0:21.0 | the beautiful and glorious light. Step into a world of wealth and wealth and financial freedom without budgets, boredom or bosses on |
| 0:31.5 | be wealthy and Smart. |
| 0:34.0 | And now here's your host, Linda P. Jones. |
| 0:38.0 | Welcome to Be Wealthy and Smart. |
| 0:40.0 | I'm Linda P. Jones, America's wealth mentor. |
| 0:42.0 | Empowering women and men worldwide to financial freedom. |
| 0:45.2 | On today's show, we're going to talk about energy rebounds while tech pulls back. |
| 0:51.2 | Lots is going on in the markets and this is another big week. But first a recap of what |
| 0:56.4 | happened last week because the S&P and the NASDAQ declined. The S&P was down 0.3% and the NASDAQ was down 1.9%. Both had their second straight losing week, which is the first time that's happened for NASDAQ since the four week losing streak in December of |
| 1:16.0 | 2022. |
| 1:17.4 | What led the sell-off in NASDAQ was semiconductor stock, such as advanced micro devices, NVIDIA and Micron. |
| 1:24.0 | So with the S&P and NASDAQ down for two consecutive weeks, |
| 1:28.0 | this is part of the over-bought situation |
| 1:31.0 | that we had indicated was happening and we're seeing stocks pull back to the 50-day |
| 1:36.3 | moving average. |
| 1:37.3 | Dan Nives, an analyst from Wetbush securities, said the recent tech pullback should be short-lived. A solid |
| 1:44.8 | earning season and tailwinds from artificial intelligence should continue to |
| 1:49.1 | push technology stocks higher despite the recent near-term pullback. We firmly stick with our |
| 1:54.6 | bullish call that a 12% to 15% plus in tech stocks will be in the cards heading |
... |
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