Tech shares could retake market dominance on Wall Street

In focus: Traders work on the New York Stock Exchange floor. Steady growth and resilience in the face of the coronavirus pandemic made technology stocks desirable to investors. — AP

NEW YORK: A bevy of major US earnings reports this week led by Apple and Microsoft could help technology and growth stocks reassert their dominance after a recent run by banks, energy and other potential beneficiaries of an economic reopening.

After leading markets higher for most of 2020, technology-related stocks took a backseat late last year to so-called value or cyclical plays, whose businesses are expected to gain the most from the economic revival promised by vaccines against Covid-19.