Tech Weakness Persists as Retail Buying Slows

Tech shares underperformed again as retail investor inflows dropped below $4.2 billion, according to JPMorgan. Nasdaq 100 futures traded flat after a 1% loss Wednesday, weighed by weak Tesla and Netflix results. Analysts note fatigue in consumer sentiment following a strong September rally. Institutional activity remains concentrated in defensives and energy. With earnings season half complete, market breadth remains narrow. JPMorgan warned that elevated valuations could heighten volatility ahead of the upcoming inflation print.