The rotation from technology to value that saw the NASDAQ lose 4.4% last week continued into trading today with the NASDAQ shedding another 2.5% while the 30 stock Dow finished with a small gain. Tech has been leading the way for most of the pandemic, but the recent move higher in interest rates in giving traders pause.
At the close:
In corporate news shares of Boeing were 3% lower after the engine malfunction that occurred over the weekend in Denver as United grounds their other Boeing 777 jets for inspection. Kohls rallied 10% before closing with a gain of 7% after a group of activists took a stake in the company. Tesla opened lower at dropped 9% which may be related to their large stake in Bitcoin which had a volatile day.
U.S. stocks reversed from a sharp sell-off and closed higher...
Stocks fell sharply today after Federal Reserve Chair Powell failed...
Tech stocks dragged down the S&P 500 today along with...
February is historically the only month of the year with...
January is traditionally one of the best months of the...
November through January is traditionally the best time of the...
