S&P 500 Hits New Highs as Tech Stocks Rally and Bitcoin Rebounds
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The S&P 500 gained 1.4% last week and is up 5.4% year-to-date. The index has risen 40.5% since October 2022.
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Technology and software stocks rallied sharply last week, while defensive sectors like Utilities and Consumer Staples lagged.
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The ProShares Bitcoin Strategy ETF gained 10.8% last week, the top performing ETF. Solar energy ETFs also did well.
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The 7 mega-cap "Magnificent 7" stocks continue leading the market higher, but participation is broadening to other stocks and sectors.
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Digital Turbine was among the worst performing stocks last week as its earnings missed expectations. Gene therapy company REGENXBIO was a top gainer after positive trial results.