Shares of technology companies rose as investors rotated back into "mega cap" companies, given stability in Treasury yields and the uneven global fight against Covid-19.
Shares of Amazon.com rose by more than 1.8% and came within 6% of all-time highs after workers at an Alabama Amazon facility voted against unionizing. Shares of other mega-cap tech companies, including Apple and Microsoft, were higher on the session, and close to all-time highs.
Investors had rotated out of the large tech companies in recent weeks, but the moderation in Treasury yields has caused that rotation to largely reverse itself. On Friday, the Nasdaq Composite officially exited correction territory, finishing 10% higher than its recent nadir on March 8, according to The Wall Street Journal Data Group.
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(END) Dow Jones Newswires