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MarketScreener Homepage  >  Indexes  >  USA  >  S&P 500    SP500

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Nasdaq ends higher with tech back in favor

11/11/2020 | 05:24pm EST

Investors switched gears Wednesday, streaming back into tech stocks and moving away from the economically sensitive sectors they had favored Monday and Tuesday.

Microsoft, Amazon, Apple and Netflix led the rally, driving the Nasdaq up 2% and the S&P 500 up less than 1%. Weakness in Boeing, Caterpillar and other industrial stocks dragged down the Dow a tenth of a percent.

Financial advisor Ross Gerber of Gerber Kawasaki says the recent market rotation favoring cyclical stocks was premature.

"It's way too early. This is as good as the economy is going to get right now for the short term, and the reason is is that everybody is out getting COVID right now."

Shares of Lyft got a slight lift, finishing up 1%. The ride-hailing app said it's working on a new delivery service for restaurants.

Beleaguered shares of Revlon looked more attractive to investors, gaining almost 23%.

The cosmetics maker said more bondholders are supporting its debt restructuring offer. The company had previously warned it may be forced to file for bankruptcy protection if a certain amount of bonds remained outstanding by mid-November.


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 3.67% 136.87 Delayed Quote.-3.66%
CATERPILLAR INC. -0.08% 192.19 Delayed Quote.6.61%
DJ INDUSTRIAL -0.04% 31176.01 Delayed Quote.1.06%
LYFT, INC. -1.72% 48.1 Delayed Quote.-0.39%
MICROSOFT CORPORATION 0.28% 224.97 Delayed Quote.-2.69%
NASDAQ 100 0.82% 13404.986468 Delayed Quote.3.17%
NASDAQ COMP. 0.55% 13530.914939 Delayed Quote.2.40%
NETFLIX, INC. -1.11% 579.84 Delayed Quote.8.43%
REVLON, INC. 1.19% 10.17 Delayed Quote.-15.40%
S&P 500 0.03% 3853.07 Delayed Quote.2.55%
THE BOEING COMPANY -1.91% 207.41 Delayed Quote.-1.57%
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S&P 500 Technical Analysis Chart | SP500 | US78378X1072 | MarketScreener
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