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Dow Jones breaks 30,000 as real economy stocks take the lead – The Australian Financial Review
The DJIA broke through 30,000 points for the first time, a sign that high-flying tech stocks have handed over market leadership to stocks in the “real economy”.
Australian stocks are riding the back of the global rally, given the market’s higher exposure to cyclical shares. The major banks and resource stocks dominated the rally, while technology stocks retreated after months of outperformance thanks to the embrace of online shopping and a surge in people working from home.
The S&P/ASX 200 Index rose 39.2 points, or 0.6 per cent, on Wednesday, closing just one point shy of where it started the year.
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