Microsoft is leading a charge in tech stocks after revealing pricing for its AI assistant. Netflix is also up 5% after an upgrade as tech stocks continue to impress.
The April 2022 high is now withing striking distance as the Nasdaq Composite rises 1%.
Earnings season will be a challenge for some of the high-flying tech stocks but early indications are that they're spending less. That should translate into improved margins and that could sustain the rally.
There's also a broadening of tech gains as the Nasdaq undergoes a rebalancing. Some had feared that would weigh on the big names (and it should) but instead it's only boosting the smaller names.
