Technology stocks staged a desperate comeback only on Tuesday, and U.S. stocks started another sector rotation. The pre-market release of February CPI growth was in line with expectations, and core CPI growth was lower than expected, partially easing market concerns about rising Inflation. The three major U.S. stock indexes were generally up on Wednesday, but some technology stocks resumed their decline, dragging the Nasdaq down in the short term, with cyclical stocks energy and banks leading the gains. Small-cap stocks outperformed the broader market, with retail holdout stocks such as GameStop soaring.
The three major U.S. stock index opened collectively higher on Wednesday, about an hour after the opening, the Nasdaq Composite Index, which had risen more than 1.5% at the beginning of the session, turned down in the short term, the Nasdaq turned down at the same Time, Apple, Zoom fell more than 1%, Amazon, Google and other technology stocks have turned down, tesla, which had risen more than 6% at the beginning of the session, also turned down in the short term. Chip stocks have turned down, the semiconductor sector ETF fell 0.88%, after once rising 1.7%. Western Digital fell more than 3%, Micron Technology, TSMC fell more than 2%. Nvidia rose 0.95%.
When the Nasdaq turned down, the Dow Jones Industrial Average maintained more than 300 points of gains, the percentage rose more than 1%, the S&P 500 rose at least more than 0.5%, the Nasdaq 100 index, which rose more than 1.4% at the beginning of the session, also had a short turn down. S&P’s 11 major sectors, only the information technology sector a plate had fallen, finance and energy sector rose more than 1% to lead the gains. Dow components, Boeing rose more than 3%, banking stocks Goldman Sachs rose more than 2%, JPMorgan Chase rose more than 1%. Value stocks dominated the small-cap index Russell 2000 outperformed the broader market, and had risen more than 2% in early trading.
Retail hold stocks collectively rose sharply, the game station rose nearly 30% during the session, the market capitalization back above $20 billion about $22.2 billion, surpassing Puguera Energy (PLUG), becoming the Russell 2000 index of the highest market capitalization of the components, the shares of six-day cumulative rise of about 150%, is expected to close double-digit gains for three consecutive days; Goss Electronics (KOSS) rose more than 110%, Express rose more than 30%, the AMC rose more than 10%.
Popular Chinese stocks that rose on Tuesday also sank when the Nasdaq turned down, with Baidu down more than 5%, Beili Beili and NetEase down more than 3%, Predo down more than 2%, Tencent ADR, Alibaba and Akiyoshi down more than 1%. Chinese ETF KWEB fell more than 3% and CQQQ dropped more than 2%.
U.S. bond yields fluctuated slightly ahead of the 10-year U.S. Treasury bid on Wednesday afternoon EST. U.S. 10-year benchmark Treasury yields in early Asian trading had approached 1.52% to refresh the intra-day low, European shares before the session to erase more than 2 basis points of decline turned up, European shares rose above 1.56% to refresh the daily high, up more than 2 basis points during the day, U.S. shares in early trading and turned down, once down to 1.54% below, but the early intra-day decline were less than 1 basis point.