Technology Drove S&P 500 1.9% Higher Friday, But Look At Tech's Terrible 2022 Loss

Published Friday, January 20, 2023 at: 8:21 PM EST

The Standard & Poor’s 500 surged 1.9% Friday, as super-capitalized tech giants Alphabet and Netflix surged. Tech’s sharp one-day advance is making headlines now but investing in a portfolio for retirement income or for the benefit of the next generation is not about a single day’s return.  In an environment in which the media constantly headlines single-day returns, we’re here to help you stay focused on what’s more important: longer term returns.  Here are 12-month industry sector returns for 2022, as defined by Standard & Poor’s. Tech sector stocks lost a whopping 28.2% of their value in 2022.  The stinging loss in...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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