Need to Know: 'Only thing to stop Nasdaq melt-up is dollar melt-up,' says BofA
A marathon week of earnings from Wall Street’s biggest names is all but over, and what have investors learned?
A melt-up refers to an unusual market occurrence in which assets are driven up sharply by investors who rush in to buy, based on fear of missing out rather than any genuine fundamentals. Often, all that buying is followed by a sharp selloff, also known as a meltdown, Bank of America data did show investors enthusiastically buying tech stocks in the latest week, rotating into the sector to the tune of $1.3 billion, while they backed out of real estate, financials and energy stocks.
The chart The Shanghai Composite SHCOMP, -1.20% has just logged its worst weekly return of 2019, making for our chart of the day. Shares of toy maker Mattel MAT, -2.07% are soaring, along with auto giant Ford F, -1.78% on earnings cheer. Conglomerate Berkshire Hathaway BRK.A, +0.79% BRK.B, +0.66% could buy back up to $100 billion of its stock over time, says CEO Warren Buffett.
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