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Why High Oil Prices Are a Time Bomb for the Tech-Led Rally -- Barrons.com

Stocks are bumping their head on the ceiling of a soaring spring advance, and could be set for a drop over the coming weeks as oil prices remain elevated and inflation gauges show damage from the U.S. war with Iran.The narrow nature of the rally, which saw five stocks -- Nvidia, Micron, Apple, AMD, and Intel -- drive nearly three-quarters of the S&P 500's 2.3% advance last week, is starting to worry some investors heading into Tuesday's April inflation reading and the continuing stalemate between Washington and Tehran.The S&P 500 has powered nearly 13.5% higher since the start of April, and hit a fresh all-time high of 7412 points last night, while the Nasdaq extended its monthly gain to 5.5% with a record close on Monday.Semiconductor stocks, meanwhile, are having their best year since 2009 in just four calendar months, with the PHLX benchmark rising more than 70% from the end of December and nearly 60% since the start of the second quarter."A prolonged closure would likely shift the
Why High Oil Prices Are a Time Bomb for the Tech-Led Rally -- Barrons.com

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