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Tech stocks lead market higher as post-election rally continues | Markets Insider

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Tech stocks lead market higher as post-election rally continues

A trader works on the floor of the New York Stock Exchange in New York, U.S., March 9, 2020.Technology stocks rebounded on Wednesday, helping lead the market higher as a post-election rally in stocks continued.

Wednesday's move came after two days of strong value and cyclical stock outperformance following the news of successful COVID-19 vaccine results from Pfizer and BioNtech. But the COVID-19 pandemic isn't over, as the US hits record daily cases and sees a continued uptick in hospitalizations and deaths.Technology stocks staged a rebound on Wednesday, recovering from a two-day losing streak on Monday and Tuesday after news of a successful COVID-19 vaccine from Pfizer and BioNtech led to a surge in cyclical stocks.

And despite a continued rise in daily COVID-19 cases, hospitalizations, and deaths, the post-election rally in stocks continued. Here's where US indexes stood at the 4:00 p.m. ET close on Wednesday:

 

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