GLOBAL MARKETS-Shares rise as cyclical stocks provide support; yields climb
A gauge of global equitymarkets snapped a three-day losing streak to inch higher onFriday as investors sold technology shares and rotated intoeconomically sensitive cyclical stocks in anticipation the U.S.economy will boom on pent-up demand once the coronaviruspandemic is subdued. Oil prices fell from recent highs as Texas energy companiesbegan preparing to restart oil and gas fields shuttered byfreezing weather, while U.S. Treasury yields climbed. On Wall Street, stocks steadied as cyclical sectors edgedhigher while tech names, which had started the session modestlystronger, reversed course to extend their recent decline.
Published:2/19/2021 4:18:09 PM