NLSP - Wall Street Breakfast: What Moved Markets

Listen on the go! A daily podcast of Wall Street Breakfast's Alpha Talks will be available this morning on Seeking Alpha, iTunes, Stitcher and Spotify. A round of late-afternoon buying boosted the Dow Jones average to another record high on Friday as rising optimism around the global economic reopening continued to encourage the rotation into cyclical stocks. But surging bond yields rekindled valuation fears in the big tech names, dragging the Nasdaq to a loss on the day. The 10-year Treasury yield jumped 10 basis points to 1.64% at its session high, hitting its highest level since February a year ago. Yields rose in an atmosphere of further anticipation of growth following the signing of the $1.9 trillion stimulus bill and as the White House declared its goal of having every adult eligible for a COVID-19 vaccination by May 1. For the week, the Dow led the major market benchmarks

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Wall Street Breakfast: What Moved Markets