Tech Up as Treasury Yields Retreat -- Tech Roundup

Shares of technology companies rose as long-dated Treasury yields retreated ahead of the Federal Reserve's policy statement.

Mega-cap tech stocks have led the stock market for most of the year, but small caps closed the gap slightly on Tuesday, said one money manager. "It's such a disconnect between large caps and small caps -- in fact, the biggest variance since Covid [times in] March of '20," said Craig Hodges, chief investment officer at Dallas mutual-fund firm Hodges Capital.

"When you get to those extremes ... they're just such an underperforming group, the small caps; I think every now and again, people say it's time to throw some money there."

Shares of digital-consulting firm Perficient surged after better-than-anticipated third-quarter earnings.

Starting Wednesday, businesses gain access to Microsoft's enterprise Copilot, one of the highest-profile artificial-intelligence tools to hit the market.

WeWork entered into a seven-day forbearance agreement with its noteholders after skipping interest payments earlier this month.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

10-31-23 1814ET