Shares of technology companies rose as investors positioned themselves for strong earnings reports from mega caps in the coming weeks.
After lagging the market for some weeks, the tech sector has come storming back ahead of earnings season.
"I think the reopening trade as well as th tech trade continues to be alive and well," said Oliver Pursche, investment strategist at wealth advisory Wealthspire. "We are starting to get a little frothy in terms of valuations."
Among the major corporations reporting earnings next week is International Business Machines. NASA awarded a contract to SpaceX to build a new capsule to land astronauts on the moon, the latest in a string of lunar-related wins for the Elon Musk-controlled firm.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-16-21 1722ET
