Tech Leads Gains in Stocks as Inflation Fears Ease: Markets Wrap

Fed’s Brainard, Bullard and Bostic see price jump as temporary
World’s biggest cryptocurrency rallies after weekend selloff

WATCH: JoAnne Feeney of Advisors Capital Management sees elevated volatility tied to high valuations.(Source: Bloomberg)

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By Rita Nazareth and Vildana Hajric

May 23, 2021 at 9:26 PM UTC

Updated on

May 24, 2021 at 8:01 PM UTC

This article is for subscribers only.

Technology shares led gains in U.S. stocks as inflation anxiety appeared to be easing. Bitcoin surged after a weekend rout.

Ten out of the 11 groups in the S&P 500 rose, while the Nasdaq 100 outperformed major equity benchmarks amid a rally in giants such as Apple Inc., Amazon.com Inc. and Tesla Inc. The world’s largest cryptocurrency soared after plunging as much as 18% on Sunday. Benchmark 10-year Treasury yields and the dollar retreated.