In an otherwise uneventful day in the stock markets, it’s worth noting that the battered momentum stocks are bouncing today.
Amazon.com is up 3.1%, Google’s up 3.0 %, Netflix is up 2.8%, and Facebook is up 2.4%.
These high-beta names are leading the Nasdaq higher by 0.9%.
This compares to the Dow and S&P 500, which are up 0.3% and 0.4%, respectively.
Still, the Nasdaq is down 5.9% from its high just a month ago. Amazon, Netflix, and Facebook also continue to be well off of their highs.