Mega-caps doing the heavy lifting
The S&P 500 is up 0.2%, and the Russell 2000 is up 0.3%. The mega-caps are getting it done again, evidenced by the 1.0% gain in the Vanguard Mega Cap Growth ETF (MGK 217.66, +2.08, +1.0%). Apple (AAPL 129.40, +1.50, +1.2%) is trading higher, even though the Nikkei reported that the company is delaying MacBook and iPad production due to the global semiconductor shortage.There appears to be a renewed appreciation for the mega-cap/growth stocks this month, as long-term interest rates descend from prior highs and investors rotate money from the cyclical winners into the Q1 laggards. The mega-caps are the early Q2 winners.