Tech stock rally sends S&P and Nasdaq to record highs
- The Nasdaq and S&P 500 hit all-time highs on Monday, fueled by tech stocks as investors expect a robust earnings season while interest rates remain low.Big tech companies including Facebook Inc, Netflix Inc, Twitter Inc and Nvidia Corp were among the biggest boosts to the S&P 500 and the Nasdaq.The S&P 500 continued its recent momentum after paring some earlier losses, recording its third record high in a row, after logging its best weekly performance in 20 weeks last Friday.In contrast, cycl
The recent downturn in Alibaba's share price has created an investment opportunity for long-term capital appreciation.The Chinese economy is expected to become the world's largest economy by 2028 and more than 500 million people will be part of the middle class by end of 2023.Alibaba will experience tailwinds from individuals and businesses spending more money during this period of growth in China.Alibaba is the dominant force in cloud services in China which could become a significant revenue g