- The major Wall Street indices are trading mixed on Wednesday.
- Financial stocks fall under pressure from falling US Treasury yields.
- Rising tech stocks help Nasdaq gain traction after the opening bell.
The main stock indices They opened mixed on Wednesday amid mixed performance from major sectors. At time of writing, the Dow Jones Industrial Average posted small losses at 34,594, the S&P 500 was up 0.17% on the day at 4,230 and the Nasdaq Composite was up 0.53% at 13,884.
Among the top 11 S&P sectors, the Financial Index is down 0.62% pressured by a 3.8% drop seen in the benchmark yield on 10-year US Treasuries. On the other hand, the Technology and Communication Services indices gain around 0.5%.
“The stock market continues to climb steadily as FOMO (fear of missing something) and TINA (no alternative) continue to dominate the narrative for 2021,” notes FXStreet equity analyst Ivan Brian. “In fact, there are few alternatives available in a zero-rate world, as global central banks have cornered themselves by making stocks the only asset class in town and in the process making the stock market too big. to go bankrupt. “
S&P 500 chart (daily)
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