News Formal

Here's what happened to the stock market on Wednesday

  • 📰 CNBC
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Traders continued to rotate out of stocks benefiting from the economic reopening and into mega-cap tech shares.

dropped 4.05%, 6.12% and 8.95%, respectively. This rotation led the Dow and S&P 500 to close lower for a second straight day and added to the Nasdaq's already strong gains. "A large shift is occurring as investors cycle out of value/cyclical stocks for a second day and pour money into growth," said one trader. "Keep in mind: investors never left growth/momentum.

There was a brief flirtation w/cyclical-value over the last couple of weeks, but this was just rental positions held by tourists ."The Fed kept rates near zero on Wednesday, adding it expects them to stay there through 2022. In a statement, the Fed said it "expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

FED BUY ALL , MORE STIMULES, BULLISH

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here's what happened to the stock market on MondayStocks rose broadly on Monday, building on the sharp gains from last week.
Source: CNBC - 🏆 12. / 72 Read more »

Here's what happened to the stock market on TuesdayStocks were mostly under pressure as traders took profits from the so-called reopening trade, which has led the market's recently sharp gains. the casino craps market . good luck. $IMRN and $DUO happened!!!
Source: CNBC - 🏆 12. / 72 Read more »

Here’s the only thing investors need to know about the stock market right now, says 50-year veteranCapital Wealth’s market strategist Jeffrey Saut sticks to his call that stocks are in the midst of a secular bull market that started in 2009 and has up to... Yeah BUBBLE Govt policy stacked toward interests of the rich its time for polciies that favor the majority. BLM should declare a candidate for President use this momentum for long term change Based on fundamentals of course
Source: MarketWatch - 🏆 3. / 97 Read more »