- The S&P 500 and the Dow reached record closing highs for a second session, having recovered from a pre-market sell-off.
- The Nasdaq 100 was unable to rally as rising long-term interest rates weighed on.
- Strong US data, reopening / pandemic optimism, and fiscal stimulus optimism helped support risk appetite.
In the end, it was a mixed day in Wall Street, with the S&P 500 closing the session up 0.1% at 3,940 in another record close. The Dow Jones performed even better, rising 0.9% and also closing at record highs, but the Nasdaq 100 fell 0.9%. On the week, the S&P 500 closed with gains of 2.6%, the Dow ended up more than 4% (it is the best week since November), while the Nasdaq 100 gained 2.1%.
In terms of sector performance; As noted, Big Tech declined, dragging the S&P 500 Information Technology and Consumer Discretionary GICS sectors lower (0.9% and 0.7%, respectively). Semiconductor manufacturers also underperformed, falling nearly 1.1%. Meanwhile, the S&P 500 real estate, industrial, and utilities sectors fared the best (gaining 1.5%, 1.3%, and 1.3% respectively).
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