The NASDAQ reached all time highs this week thanks to the mega cap stocks or FAANG (Facebook, Amazon, Apple, Netflix, Google). This trend never seems to end as these tech monsters continue to move higher week after week. Could NASDAQ 10K be just around the corner?
Here is a great visual of the worlds 20 largest Technology/Internet companies by market capitalization. An interesting factoid is that not one company on the list is located outside of the United States and China.
The TSX Composite turned in a solid week breaking out and closing at all time highs of it's own. It would be nice to see some continuation in Canadian equities as the TSX has only gained 22% over the last decade compared to 125% in the S&P 500.
The Blockchain Explained
As Bitcoin and most other cryptocurrencies trade in a bear market many question the future of these digital currencies. However, the underlying blockchain technology cannot be ignored and will more than likely become a part of everyday life.
This is a great piece I think you should read in order to understand how blockchains could drive our standard of living forward and potentially create trillions in new value like the stock market did over the last 150 years...
Below are five of the stronger trending stocks on my CM50 & UM50 lists. We've been seeing continued strength in select energy names in Canada as crude oil continues to trade above $70.
In the US it's more of the same as the tech heavyweights continue to show up on the list week after week.
Remember that chasing stocks higher is not recommended and even the strongest trending stocks can experience significant drawdowns.
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Have a great day and thanks for reading!