Nasdaq joins Dow industrials in posting triple-digit gain early Wednesday
The Dow clinched a fresh intraday record Wednesday morning and the broader stock market was buoyant after a report on inflation showed only a modest rise that matched economist expectations, nudging bond yields down.
U.S. Treasury yields retreated slightly Wednesday, pausing for now the dynamic that’s been driving a rotation out of shares of highflying technology stocks and other growth shares and into more cyclically sensitive, value-oriented equities. “Lots of people feel like it’s a zero sum game — I own the reflation trade or I own tech,” Mantione said in an interview. “It would be wise for longer term investors to understand that there could be potential opportunities at the extremes to take advantage of this volatility. Take a day like Monday to buy stocks focused on disruptive tech like 5G, robotics, clean tech. Take a day like Tuesday to buy financials, energy, materials.
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