New Normal? Dow gains, Nasdaq flat, and rotation into cyclicals.
--$38 billion in notes Wednesday was met with adequate demand, easing investors’ fears
--UBS raises S&P 500 forecast to 4,250 from 4,100 on Tuesday
--rotation in cyclical, stocks that will benefit from faster recovery from pandemic
--stimulus approved
might update later..They key is that it seems like investors are moving more into safer plays as the economy normalizes and the fed steps out of the way, but that's a rough overview that could be completely incorrect...
--UBS raises S&P 500 forecast to 4,250 from 4,100 on Tuesday
--rotation in cyclical, stocks that will benefit from faster recovery from pandemic
--stimulus approved
might update later..They key is that it seems like investors are moving more into safer plays as the economy normalizes and the fed steps out of the way, but that's a rough overview that could be completely incorrect...
"Bizarrely, the Nasdaq rout took place even as the Dow Jones hit an intraday record high in the previous session as investors favored stocks primed to benefit from an economic reopening; such an gaping divergence had not been seen since 1993."