According to Tom Hayes of Great Hill Capital LLC, the yield on 10-year US Treasuries has dropped from 14-month highs, allowing tech stocks to head for a recovery. Tom also suggested that technology and growth are back in business, recovery will be more moderate than expected.
The Dow Jones rose 0.32% to 32.731.2 points, the S&P 500 rose 0.7% to 3.940.59 points, the Nasdaq rose 1.23% to 13.377.542 points.
The S&P 500 tech rose 1.93%. While the energy and financial indices were up 1.01% and 1.30%, respectively.
