Highlights
Strength in technology shares buoyed the major averages Wednesday even as the broader market faced consolidative selling pressure after a good start to the year. The Dow Jones industrial average firmed 0.3 percent, the S&P 500 gained 0.6 percent and the Nasdaq was up 1.3 percent. US bond yields and the dollar rose while oil prices eased.
An announcement by President Trump of a big investment in AI infrastructure rallied technology shares. Positive earnings news from Johnson & Johnson, Procter & Gamble, United Airlines and Netflix lifted those shares.
Among sectors, communications services and technology. Outperformed while real estate, utilities, financials, energy and materials lagged.
Definition
Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.
Description
Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.