A note via Goldman Sachs on Monday ahead of the NASDAQ rally:
US equities hang on for a gain as the Nasdaq leads the way
GS says:
- the selloff led to historically cheap valuations for technology stocks at a time when earnings estimates are still rising
- and that this is an indication that shares can resume the bullish run they staged earlier this year
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I know, I shoulda told y’all this a good few hours ago.