Story · Stripe
Plenty of Stocks Are Working in This Market — You Just Have to Look Beyond Tech
The article argues that despite a seemingly weak market, many stocks outside the tech sector are performing well. It highlights Wells Fargo, where CEO Charlie Scharf is expanding into M&A and underwriting, cutting costs, and poaching talent, leading to a stock rebound after analyst skepticism. J.B. Hunt reported a strong earnings surprise amid a trucking recovery. Biotech ETFs are up over 27% year-to-date, driven by a wave of acquisitions. The piece also notes Stripe's offer to acquire PayPal as a significant fintech consolidation move. The author suggests these opportunities indicate a healthy market beneath the surface, questioning the sustainability of tech-heavy portfolios.
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