IHT - Nasdaq hits new record high S&P slumps and banks continue to weigh on Dow

To kick off a seasonally volatile month of the year, the stock market continues to be lead by banks, big tech, and emerging markets. The Nasdaq (COMP.IND) +0.33% continues to lead the rally, with the S&P 500 (SP500) +0.03% largely flat. Caterpillar (NYSE:CAT) and Chevron (NYSE:CVX) both lead the Dow to finish in the red on Wednesday. The 10-year UST yield fell by two basis points to 1.30%. The bond market barely nudged after nonfarm private sector employment completely missed the consensus, reflecting continued continued caution on labor growth, especially ahead of Friday's jobs report. "We don't think the continued growth of the economy and the reopening trade is going to continue, Yahoo Finance reports, commented President and Chief Investment Officer of Advisors Asset Management Cliff Corso. PVH (NYSE:PVH) was the largest leader in the S&P 500, gaining 15% after the company's beat & raise quarter increases its conviction in the firm's Buy rating. Real estate

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Nasdaq hits new record high, S&P slumps and banks continue to weigh on Dow