Can’t keep US equities down — Nasdaq rises 1%

Earnings season will be a challenge for some of the high-flying tech stocks but early indications are that they’re spending less. That should translate into improved margins and that could sustain the rally.

There’s also a broadening of tech gains as the Nasdaq undergoes a rebalancing. Some had feared that would weigh on the big names (and it should) but instead it’s only boosting the smaller names.