About: http://data.cimple.eu/news-article/857bb3f086696504a7a65af1ab41d924f7e487465ecb037d1f95f675

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About: http://data.cimple.eu/news-article/857bb3f086696504a7a65af1ab41d924f7e487465ecb037d1f95f675 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Wall Street investors shifted their patterns Thursday, buying technology giants and shunning financial and energy equities as long-term bond yields retreated. A day after the Federal Reserve signaled an earlier timeframe for hiking interest rates, investors sold bank and energy shares that have done well in 2021, steering funds to tech giants that have underperformed. "The good news is money is not rotating out of the market, it's just rotating into growth stocks," said Art Hogan, chief strategist at National Securities. Shares of Apple, Facebook and Amazon all rose more than one percent, leading to a 0.9 percent jump in the tech-rich Nasdaq Composite Index to 14,161.35. The Dow Jones Industrial Average ended down 0.6 percent at 33,823.45, while the broad-based S&P 500 slipped less than 0.1 percent to 4,221.86. The Fed on Wednesday maintained highly accommodative monetary policy as expected, but a majority of central bank officials now believe interest rates will increase in 2023, rather than 2024. Several policymakers projected interest rate hikes as soon as 2022. But the yield on the 10-year US Treasury note, which rallied on Wednesday, pulled back on Thursday. Karl Haeling of LBBW said market participants were broadly adjusting investments after the Fed announcement boosted the dollar. "We don't believe the Fed's communications Wednesday will prove to be a game-changer in terms of the overall direction of Treasury and equity price trends," he said in an analysis. "But we do see the latest FOMC creating significant changes to the composition of global market investment activities going forward," he said, noting that "Most market participants had expected a fairly sleepy Northern Hemisphere summer." jmb/hs
schema:headline	Nasdaq rallies, Dow falls in post-Fed rotation
schema:mentions	S&P 500 Index Interest rate Sleepy (novel) Stock World energy consumption Dow Jones Industrial Average Federal Reserve Prime Video Apple Inc. United States dollar Facebook Northern Hemisphere Landesbank Baden-Württemberg Federal Open Market Committee United States Treasury security Monetary policy NASDAQ Composite
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-06-17 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	73 (xsd:integer)

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