Nasdaq Falls Most Since 2011 as Tech Selloff Resumes – Bloomberg 04-10-14

Salient to Investors:

The Nasdaq Composite is at 35 times reported earnings  versus 17 for the S&P 500. Analysts forecast S&P 500 earnings climbed 1 percent in Q1.

Chad Morganlander at Stifel Nicolaus said the rotation out of high-flying momentum stocks of 2013 into more value-driven opportunities will continue in the coming weeks as investors look for consistency in earnings, fueled by concerns about high valuations and flat revenue growth, a perfect cocktail for a sector rotation out of growth and into value.

Tom Caldwell at Caldwell Securities a month of the market getting tired and letting off steam is not a dramatic trend reversal, and the market is waiting for good news, a new revelation.

Sam Chi Yung at Delta Asia Securities said China’s allowed quota of cross-border trading will have a significant impact on the Hong Kong market because it accounts for about a quarter or fifth of the daily turnover.

Read the full article at http://www.bloomberg.com/news/2014-04-09/asian-futures-rise-on-fed-as-yen-slips-crude-snaps-climb.html

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