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Dow Rallies, Tech Stocks Trail as Democrats Lead in Georgia Elections

Provided by Dow Jones By Will Horner and Caitlin McCabe Investors piled into shares of economically sensitive companies and dumped big technology stocks Wednesday, betting Democrats are poised to take control of the Senate and usher in another round of stimulus. The Dow Jones Industrial Average, composed mostly of cyclical stocks, surged more than 600 points, or 2%, led by shares of banks and manufacturers, while the yield on the benchmark 10-year U.S. Treasury note rose above 1% for the first time since March. Gold prices fell 2.3% their biggest one-day loss since early November. Going into January, many traders had anticipated that the investment landscape in 2021 would largely be an extension of the year before. Despite the looming Georgia election, most had expected Republicans to maintain control of the Senate, putting a check on the agenda of the incoming Democratic administration. Swelling Covid-19 cases, too, meant many Americans woul

Nasdaq futures fall, Treasury yields reach 1% amid Georgia runoffs

Stocks pare gains amid D.C. protests, still poised for record Rita Nazareth and Claire Ballentine, Bloomberg News BNN Bloomberg s mid-morning market update: January 6, 2021 VIDEO SIGN OUT U.S. stocks stabilized in the green, though remained well off session highs after protesters surged into the U.S. Capitol, forcing a lockdown that interrupted certification of the presidential election. The S&P 500 trimmed its advance to 0.6 per cent at the close of trading in New York, after rallying as much as 1.5 per cent earlier Wednesday. Equities had been on track for a record, buoyed by likely Democratic control of Congress that could unleash a torrent of spending to revive growth. That sparked a reflation trade, with investors pouring into small caps and banks, companies that benefit from an economic rebound. Tech shares lagged behind.

Tech Stocks Fall as Democrats Lead in Georgia Elections

Provided by Dow Jones By Will Horner U.S. technology stocks fell Wednesday as investors bet that the Democrats were poised to take control of the Senate following early results from Georgia s runoff elections. The tech-heavy Nasdaq Composite tumbled 0.9% shortly after the opening bell on expectations that a Democrat-controlled Congress would lead to higher taxes and tighter regulations on tech giants. The Dow Jones Industrial Average, in contrast, rose 0.9%, or roughly 270 points, and the S&P 500 edged up 0.2%. The Russell 2000, which tracks smaller stocks, jumped 2.1%. Both indexes are comprised of companies beaten down by the coronavirus pandemic that stand to benefit from higher fiscal spending.

The Technology 202: Georgia runoffs provide critical test for tech companies on election fraud claims

The Technology 202: Georgia runoffs provide critical test for tech companies on election fraud claims
washingtonpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from washingtonpost.com Daily Mail and Mail on Sunday newspapers.

Dow Rallies, Tech Stocks Slip as Democrats Lead in Georgia Elections

Provided by Dow Jones By Will Horner The Dow rose, while U.S. technology stocks slipped Wednesday as investors bet that the Democrats were poised to take control of the Senate following early results from Georgia s runoff elections. The tech-heavy Nasdaq Composite edged down 0.2% shortly after the opening bell on expectations that a Democrat-controlled Congress would lead to higher taxes and tighter regulations on tech giants. The Dow Jones Industrial Average, in contrast, rose 1.1%, or roughly 325 points, and the S&P 500 added 0.6%. The Russell 2000, which tracks smaller stocks, jumped 2.4%. Both indexes are comprised of companies beaten down by the coronavirus pandemic that stand to benefit from higher fiscal spending.

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