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Tech stocks seem to go up whenever the bond yield stops doing so. Leading tech stocks higher today was Tesla, which is actually in the S&P 500 Consumer Discretionary sector. Morgan Stanley issued a very bullish report on the auto company's new "Dojo" supercomputer. It suggests that Tesla may also be a play on AI.
Meanwhile, the 10-year Treasury bond yield remained below 4.30% following a report that consumers' inflation expectations remain subdued, while more of them are worrying about the availability of credit. On the other hand, the Fed reported on Friday that household net worth rose to a record high. Consider the following:
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