Stock Market Today: How to Trade Tech Stocks

Kenny Polcari, managing partner at Kace Capital Advisors, discusses the latest stock market news including tech stocks, Cathie Wood, and markets on Thursday.
Author:
Publish date:

The Dow Jones Industrial Average and S&P 500 set record highs as tech shares rallied and Treasury yields stabilized. The tech-heavy Nasdaq surged 2.5%.

TheStreet's Katherine Ross and Kace Capital's Kenny Polcari discussed breaking news in the stock market. Polcari spoke about tech stocks, Cathie Wood's investment into Roblox and markets on Thursday.

Tech Stocks

The stabilization in bonds was lifting tech shares as Apple  (AAPL) - Get Report, Microsoft  (MSFT) - Get Report and Tesla  (TSLA) - Get Report stock was rising Thursday.

Polcari said tech stocks should be a part of your portfolio. "There are so many sub-sectors within technology whether it's clean energy technology, semis, cybersecurity, internet of things. Those are places where you can find an opportunity [to buy] not only this year but in the years ahead."

Cathie Wood

Shares of gaming company Roblox  (RBLX) - Get Report were slightly higher Thursday after ARK Invest's Cathie Wood reportedly bought more than 500,000 shares of the videogame developer that surged 54% in its trading debut on Wednesday

Polcari said Cathie Wood has been playing the high growth, sexy technology names with Spotify  (SPOT) - Get Report, Shopify  (SHOP) - Get Report, Tesla  (TSLA) - Get Report and Zoom  (ZM) - Get Report. "And Roblox doesn't surprise me at all. But once the world reopens, are you going to be on Roblox, or will you go outside and live your life? Her strategy has been volatile and that's been clear. But I do think she is on the cutting edge."

Markets on Thursday

Polcari said he's watching the rotation out of value and back into growth stocks as the Nasdaq surged ahead of the other two indices on Thursday.

Tags
terms:
InvestingStocks