The index of the US technology exchange has recently performed better than the leading index Dow Jones.
(Photo: Bloomberg)
Dusseldorf It was the big turnaround in the stock market in recent months: the rotation from growth to value. Professional investors around the world replaced growth stocks (growth) from the technology sector with value stocks (value) from cyclical sectors or financial stocks. The trend is still ongoing – but it could soon come to an end, as the price development of the two US indices S&P 500 Value and Growth shows.
Investors have done well so far this year with the value index, in which stocks such as Berkshire Hathaway (the conglomerate of US star investor Warren Buffett), the pharmaceutical company Johnson & Johnson and the oil company Exxon Mobil are heavily weighted. Since the beginning of the year, it has held its value constant despite the recent correction. The growth index, in which the tech giants Apple, Microsoft and Amazon are most heavily weighted, fell by almost nine percent in the same period.
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