Wall Street led another mixed session on Wednesday as the market rotated away from "reopening stocks" back into the extremely popular technology industry. The S&P 500 and Dow Jones slipped for the second day in a row as investors moved their profits into the Nasdaq, which broke another record high on Wednesday and closed above 10,000 for the first time ever.
The Federal Open Market Committee kept interest rates near zero on Wednesday, noting that the coronavirus pandemic still "poses considerable risks to the economic outlook over the medium term." The Fed expects to keep rates low through 2022 in order to stimulate borrowing and lending as the economy begins to recover from the pandemic's financial crisis.
Here's how the market settled for the mid-week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In Major Stock News, Amazon
In Stock Sector News, every sector expect Information Technology, which increased +1.69%, fell during Wednesday's session. The performance losses were as follows: Energy -4.92%, Financials -3.75%, Industrials -2.38%, Real Estate -1.91%, Materials -1.11%, Utilities -0.54%, Consumer Discretionary -0.40%, Communication Services -0.26%, Consumer Staples -0.15% and Health Care -0.14%.
In Commodity and Currency News, West Texas Intermediate
As the market moves into Thursday, investors will trade with the Labor Department's weekly jobless claims data in mind.