Both the S&P 500 and the NASDAQ are sitting at new highs as we wind down a very positive earning season. So far, almost 80% of S&P 500 companies have reported a positive earnings surprise, with the year-over-year earnings growth rate at the highest level since Q2 of 2022. Amid this corporate growth, we’re now seeing interest rates pull back following Wednesday’s core CPI data, which came in lower than expected. In response, the yield on the key 10-year treasury bond fell to as low as 4.3% before ticking higher into today’s close. This is great news for growth stocks such as Technology, which have been struggling as the markets march to new highs. A rising rate environment is a negative for growth stocks such as Technology. Daily Chart of Technology Sector (XLK) While Apple’s (AAPL) 12% advance following the release of their earnings 3 weeks ago is certainly a…
