October 20, 2021

Banks, industrials lift Dow; Tech mega-caps drag Nasdaq lower

A Wall St. street sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., September 17, 2019. REUTERS/Brendan McDermid

  • Stocks sensitive to economy outperform the market
  • U.S. core capital goods orders, shipments rise in Aug
  • Indexes: Dow rises 0.34%, S&P down 0.29%, Nasdaq falls 0.72%

Sept 27 (Reuters) – The Nasdaq slipped on Monday as investors swapped technology heavyweights for stocks linked to economic growth amid increasing confidence in a recovery, helping the Dow mark small gains.

Seven of the 11 major S&P sectors advanced, with energy (.SPNY) jumping 3.5%, followed by financials (.SPSY) and industrials (.SPLRCI).

Banks (.SPXBK) rose 2.2%, tracking a rise in the U.S. 10-year Treasury yield , which briefly breached the 1.5% level.

The small-cap Russell 2000 (.RUT) was up 1.7%.

Investors moved into value and cyclical stocks from tech-heavy growth names after the…

Read full article here: www.reuters.com