First, the change can be explained by higher interest rates and higher commodity prices. This is stoking demand for “cyclical” companies like industrials and financials that benefit from more gross domestic product. Many of these companies struggled before the crisis and are now being rediscovered for the first time in years.
Stocks begin 2021 on a strong note as investors look for the global recovery to accelerate and prepare for a busy month of news and events.
ABNB and DASH are looking to raise $6.2 billion — more than double the total for the entire month last year. Including other deals like Roblox and ContextLogic, the IPO market is on pace for the busiest December ever.
Technology stocks just had their worst month since March, but some big events could draw attention back to the group in October.