Need to Know: The ‘ridiculous’ reason tech stocks aren’t in a bubble

Get ready for another batch of newsy headlines to slide off this market.

Reports that POTUS may have leaked information to the Russians isn’t fazing equities so far, though the same can’t be said for the dollar (see below). While it’s early, the postelection period has proven this is a bit of a Teflon-coated market, with last week’s FBI director-firing episode the latest example.

The S&P 500 SPX, +0.48% and the Nasdaq COMP, +0.46% managed fresh closing highs on Monday, with the latter nabbing its 32nd record close of 2017. That brings techs to a 14.24% gain so far this year, easily sprinting past a 7.3% gain for the S&P 500 and a 6.2% rise for the DJIA.

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