This group of stocks among first to roar back to all-time highs [MSN Money]
RED HAT (RHT)
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Source: MSN Money
This group of stocks is among the first to roar back to all-time highs © Provided by CNBC LLC The S&P 00 Software index touched its all-time high on Thursday, roaring back more than perct from its Christmas Eve low. The stand-out performance is driv by the group's immunity to the China trade war which hurt other technology compani, pecially chipmakers. The secular trd of cloud technology and the booming M&A activiti are also boosting the sector, analysts said. Source: FactSet Load Error "They don't have raw materials that are imported. [Tariffs] have more to do with chip compani, technology and raw material compani," said Joel Fishbein, software and cloud technology analyst at BTIG. "There were pullbacks but they were not as dramatic. We are at a secular boom right now for software which we think will continue for several years." The group's comeback is stronger than the S&P 00 which rebounded 8 perct from its December bottom. Software compani also held up well in the stock market'
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