REUTERS: The Dow jumped 1per cent, the S&P 500 inched up and the Nasdaq closed lower on Monday as investors extended a rotation into value stocks from heavyweight tech-related names while awaiting news on progress in a U.S. fiscal support bill.
Similar rotations in recent years have not lasted long, he said, and, at this point,"I'm looking at this more as a correction of growth than it is people abandoning stocks." U.S. Treasury Secretary Steven Mnuchin, in an interview with CNBC on Monday, said the Trump administration and Congress could reach an agreement as soon as this week if Democrats are"reasonable."
Microsoft Corp fell 2per cent as sources said its bid to carve out parts of TikTok from its Chinese owner ByteDance will be a technically complex endeavor.
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