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Santoli’s Tuesday market notes: Salvage buyers snap up tech and drive Nasdaq’s rally, indexes soar

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Aug. 23, 2021.
Michael Nagle | Bloomberg | Getty Images

This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.

  • One of a bull market's best friends is the scare that proves unfounded or overstated. Something like that is playing out now. The exaggerated shift to fear from confidence in recent weeks is now seen as unwarranted with the macro recovery picture intact: Omicron appears manageable and investors have digested the Federal Reserve's shift.

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