|Technology stocks bounced back Tuesday after two days of losses, lifting the S&P 500, the Dow Jones Industrial Average, and the Russell 2000 indexes to the latest in a string of record highs. The S&P 500 technology sector rose by 0.9 percent, shaking off its biggest two-day decline in almost a year, and S&P 500 futures added another 0.1 percent before the start of trading Wednesday. “I think the fall the last two days has been due to psychology not to any fundamentals, and today you’re seeing some people step back in and buy again,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. “Fundamentals look good.” The gains indicated that the markets feel good about an expected announcement from the Federal Reserve that it will hike its benchmark interest rate by a quarter point Wednesday at the end of a two-day meeting.
Source: Reuters, Bloomberg