Shares of technology companies rose as traders rotated back into growth sectors.
Strategists at one brokerage said the ups-and-downs on the stock market so far in 2021 look set to continue, based on previous cycles. In "many of the past bull markets, year-two gains were quite muted, as stocks caught their breath from the year-one sprint," said strategists at brokerage LPL Financial, in a note to clients.
"With the S&P 500 up more than 90% from the March 23, 2020 lows, we wouldn't be surprised at all if history repeated and stocks saw choppier action in year two."
The price of bitcoin, one of the most volatile of all high-risk tech investments this year, rallied after billionaire Ricardo Salinas Pliego said his Banco Azteca bank was working toward becoming the first Mexican lender to accept the cryptocurrency.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-28-21 1730ET
