Goldman's Matt Weir: Tech Bull Market Still Has Room to Run

Goldman Sachs Wealth Management's Matt Weir says the recent concentration of market gains among a handful of large technology stocks does not signal the end of the bull market. In his view, the narrowness of the rally is a feature of the current cycle rather than a warning sign of an imminent reversal. Weir expects hyperscaler capital-spending growth to decelerate from its extraordinary pace but to remain well above overall economic growth, a dynamic he argues can continue to support the companies driving the market. He joins Ed Ludlow on "Bloomberg Tech" to lay out that case. Ultimately, Weir says, earnings will determine where stocks go next, making the durability of corporate profits the key variable investors should watch as they weigh whether the tech-led advance can extend further.