Conviction in the strength of the economic recovery pushed investors into U.S. technology stocks on Thursday, driving the Nasdaq higher, although a post-Fed hangover left a subdued S&P nursing a very minor loss.
The marginal decline was the S&P’s third negative finish in a row, while the Dow – with a more pronounced drop – posted its fourth straight lower close.
Many investors were still processing the Federal Reserve’s unexpectedly hawkish message on monetary policy from the previous day, which projected the first post-pandemic interest rate hikes in 2023.
Fed officials cited an improved economic outlook as the U.S. economy recovers quickly from …
Keep on reading: Nasdaq closes up on tech stocks strength, as hawkish Fed limits S&P