The S&P 500 and the Nasdaq fell on Monday as investors rotated out of heavyweight technology stocks and moved into lagging growth-linked sectors ...
REUTERS: The S&P 500 ended up slightly and the Nasdaq fell on Monday as investors extended a rotation into value stocks from heavyweight tech-related names while awaiting news on progress in a U.S. fiscal support bill.
Similar rotations in recent years have not lasted very long, said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago. But, he said, at this point,"I'm looking at this more as a correction of growth than it is people abandoning stocks."Bets on a potential coronavirus vaccine, historic fiscal and monetary support, and more recently, a better-than-expected second-quarter earnings season have brought the S&P 500 close to its February record closing high.
U.S. Treasury Secretary Steven Mnuchin, in an interview to CNBC on Monday, said the Trump administration and Congress could reach an agreement as soon as this week if Democrats are"reasonable."
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street mixed with stimulus in focus; Dow hits over five-month highThe S&P 500 and the Nasdaq fell on Monday as investors rotated out of heavyweight technology stocks and moved into lagging growth-linked sectors ...
Read more »
Wall Street set for somber open after Trump signs virus relief ordersU.S. stock index futures were in a flat-to-slightly higher range on Monday as markets looked to executive orders from President Donald Trump over ...
Read more »
Futures edge higher after Trump signs virus relief ordersU.S. stock index futures were in a flat-to-slightly higher range on Monday as markets looked to executive orders from President Donald Trump over ...
Read more »
US consumers grew more pessimistic in July after two months of improvement: NY Fed surveyAfter two months of feeling slightly better about their odds in the labor market, Americans grew more pessimistic in July, according to a survey ...
Read more »
Oil giants' production cuts come to 1 million bpd as they post massive writedownsThe world's five largest oil companies collectively cut the value of their assets by nearly US$50 billion in the second quarter, and slashed ...
Read more »