Software

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US SECTORS CALL: Information Technology, Energy & Consumer Discretionary

Aug 30, 2026 5 min read paid

Information Technology (MW) led the S&P 500 sectors last week, up 1.8%. The sector rose 3.4% on Thursday following Nvidia’s results the previous evening. Nvidia guided to 70% revenue growth next fiscal year against a 45% consensus. Energy (OW) was among the weakest, down 2.0%, while Consumer Discretionary (UW) rose 0.1%. The rate-sensitive sectors sold off on Friday after Warsh’s Jackson

Ed Yardeni
Toby Hearst

INFORMATION TECHNOLOGY: Creative Destruction On Speed

Apr 25, 2026 4 min read

We lowered the S&P 500 Information Technology and Communication Services sectors from overweight to market weight on December 7, 2025. We did so because the two sectors together accounted for 45% of the S&P 500's market capitalization (chart). We were also concerned about the mounting uncertainties regarding the rate of return on hyperscalers' massive AI investments. Since then, investors have concluded that the

Ed Yardeni
Toby Hearst