The stock market is seeing a reversal on Wednesday after the tech-heavy Nasdaq led the market on Tuesday to close at a record level.
The Dow was up 163 points, or 0.4% and the S&P 500 was up 0.3%, while the Nasdaq was the laggard, up 0.2%.
The move suggests Big Tech stocks aren’t holding the same firepower today as they did yesterday, and other sectors are gaining ground.
This morning’s release of the producer price index showed that inflation remains subdued at the wholesaler level. That’s good news for both stocks and bonds.