Big rebound in technology leads stocks higher on Wall Street
Higher bond yields tend to pull money away from high-priced stocks like technology companies, which have been soaring through the pandemic and, as a result, have been beaten down in recent weeks as bond yields have marched higher. “The yields being down took a little of the pressure off the tech stocks,” said Willie Delwiche, investment strategist at All Star Charts. “There’s still beneath the surface a buy-the-dip mentality and a belief that large-cap growth (stocks) are going to be a persistent leader in the market.” The S&P 500 rose 54.09 points to 3,875.44. Communication compani...
Source: triblive.com