The Nasdaq broke through the 6,000 mark for the first time on Tuesday as investors move into tech-heavy growth companies on concerns US President Donald Trump will be unable to deliver on his economic expansion promises.
According to the Financial Times, strong earnings coupled with investor sentiment over Trump's inability to pass reform has led investors to move into companies where the underlying growth is less affected by the macro environment. The Nasdaq rose 0.7% on Tuesday to 6,025 points while the small-cap index, the Russell 2000, climbed 0.94% to 1,411 points. Russ Koesterich, manager of the Global Allocation fund at BlackRock, told the FT: "This is a risk-on rally but not a reflation rally - one of the characteristics of this market year-to-date has been a strong outperformance by growth ov...
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