Dow Industrials Tick Up as Investors Focus on Powell
The Dow Jones Industrial Average edged up Wednesday as investors digested fresh comments from
a day after the Federal Reserve chairman’s comments soothed unsettled markets.
Stock markets have wavered in recent days following a strong start to the year, with highflying tech companies leading declines. The Nasdaq has doubled from its lows last March, with companies like Tesla rising even further.
It isn’t at all surprising that investors are choosing now to lock in some of those profits, said LPL Financial strategist Jeff Buchbinder. “We’ve seen this in other bull markets coming off major bear-market lows,” he said. “It makes total sense to take a breather.”
Investors said a rise in government bond yields, driven by…