Jay Woods, Chief Market Strategist at Freedom Capital Markets, joins to break down a market that seems to be brushing off rising oil prices and staying laser-focused on one thing tech. Even as WTI Crude Oil and Brent Crude move higher, the S&P 500 continues to push toward highs, driven largely by the dominance of technology stocks. With tech making up a significant portion of major indexes, its strength is masking broader concerns, including the real-world impact of rising fuel costs on consumers something Woods warns could eventually catch up with the market.
Leadership remains concentrated in the so-called “generals” of the market, with big tech names leading the charge. At the same time, a surprising trend is emerging legacy tech stocks like Intel, Dell, Cisco, and eBay are making a comeback. Intel, in particular, is gaining momentum following government backing and potential new partnerships, signaling renewed confidence in older tech players. Meanwhile, semiconductors and hardware continue to show strength, while software companies face more uncertainty, especially as AI begins to disrupt traditional business models.
