The Nasdaq rebounded Thursday after hot inflation data and surging bond yields sparked a sell-off in technology stocks Wednesday. The Dow fell 0.44%. The S&P 500 rose 0.06%. The Nasdaq jumped 0.52%.
The tech-heavy Nasdaq Composite gained 0.5% at 15,704.28. The S&P 500 closed 0.06% higher at 4,649.27. The Dow Jones Industrial Average shed 158.71 points, or 0.4%, to 35,921.23 — pulled down by"We're going to have this push and pull where we get these headline numbers that shock the markets a bit, like with inflation yesterday," said Yung-Yu Ma, chief investment strategist at BMO Wealth Management.
Tech names rallied Thursday after October's consumer price reading pushed up bond yields Wednesday. The spike in rates pressured growth pockets of the equity market.
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