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Feb 26, 2021 22:42 GMTFXStreet News
Tech stocks saw a modest recovery on Friday as long-term bond yields dropped sharply.
The rest of the stock market remained under pressure, however.
Focus next week will be on key US data releases, fiscal stimulus headlines and more remarks from Powell.
US tech stocks saw a modest recovery on Friday, with the Nasdaq 100 finishing the session with gains of about 0.63%. Big Tech names Apple (+2.55%), Amazon (+1.86%), Facebook (+3.3%), Microsoft (+2.64%), Alphabet (+1.11%) and semiconductors stocks (SOX index +2.28%) all gained as long-term US bond yields plummeted in a sharp retracement of recent moves. Still, despite the modest Friday recovery, the Nasdaq 100 still had its worst month since October 2020, dropping 0.1% since the end of January and roughly 7% from February’s highs (set at the beginning of last week).