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Tech vs. the consumer: The market’s top two groups this year are neck and neck

“The S&P 500 tech sector is the top performer this year, rallying nearly 17 percent, while the consumer discretionary sector is up a little more than 15 percent in the same period” writes unknown author for cnbc.com. In the battle for market leadership, consumer discretionary stocks are nipping at technology’s heels. He added that the market has high expectations for internet-based technology stocks, which has led to some of their declines.When asked which of the groups proves to be the smarter bet, Frank Cappelleri, head market technician at Instinet, said he’d choose the discretionary stocks.Consumer discretionary can stand to benefit from any “spike” in average hourly wages, Tepper said, which makes him more likely to bet on that sector over tech.
 
Source: cnbc.com



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