Business
Dow Jones hits record as inflation fears recede – Sydney Morning Herald
Wall Street advances higher across the board, setting up the ASX to open higher this morning.
Rising yields have weighed on technology shares as they rely on cheap funding for growth.
Investors are shifting funds from tech stocks with lofty valuations to other groups, such as energy and financials, that are undervalued and more of a play on an improving economy in a post-COVID world than big tech is, said Peter Tuz, president of Chase Investment Counsel in Virginia.
It is occurring in fits and starts, Tuz said. That is essentially the overwhelming theme in the market right now and it probably…
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