#AMCDAY: Investors Celebrate Community - Created Day by Holding and Buying Shares - www.malkamdior.com
The renewed interest in tech and other growth stocks had coincided with a pullback in bond yields last week. At the same time, some meme stocks also rallied, led by a 17% jump in shares of
Moves across the stock market were relatively muted as investors shifted their attention toward the Fed's two-day policy meeting. The meeting is expected to shed light on the central bank's interest-rate plans.
AMC, continued to rally, proving the meme-stock sensation is far from over. Shares of the movie-chain operator gained 13%, extending its gain so far this month to 114%.
Bitcoin prices also rallied after
All that was offset by losses across most of the rest of the stock market. Financial stocks, which are sensitive to rates, fell 1.3%. Shares of material firms shed 1.6% while manufacturers and consumer staples slid 0.9% and 0.7%, respectively.
Norwegian Cruise Line Holdings fell 3.9%, while Ford Motor, one of the best performers of the S&P 500 this year, retreated 2.5%. Other decliners included Walgreens Boots Alliance, Deere & Co. and Caterpillar, all off 2% or more.
"Stock markets are by and large around all-time highs. We think there is still more upside there,"
Monday's rotation into growth stocks continued even as the decline in bond yields abated. The yield on the benchmark 10-year
Overseas, the pan-continental Stoxx Europe 600 ticked up 0.2%, hitting a new record. Japan's