Deere Shares Jump to Record as Traders Rotate Out of Big Tech
Deere & Co. signage as a trader works on the floor of the New York Stock Exchange (NYSE) in New York.
Photographer: Michael Nagle/BloombergDeere & Co. shares briefly touched an intraday record high, capping off a rally that’s come as interest-rate cuts and strong US growth push investors into sectors of the market closely linked to the health of the economy.
The stock rose as much as 2.3% Thursday morning, touching a high of $537.26. Shares took a breather later in the session as a tech selloff dragged the broader market down, with the S&P 500 Index down 0.8% as of 12:49 p.m. in New York.