Stocks Rally Led by Energy, Technology shares Buck the Trend

By: David Becker

US Stocks moved higher on Wednesday led by a rally in energy shares following a larger than expected draw in crude oil inventories. Most sectors were higher, but technology and cyclical shares bucked the trend. These are generally considered the growth sectors, which means that there is a sector shift occurring. Over the last 7-trading days, energy shares are higher by slightly more than 2.5% while technology shares are down 1.5%. Facebook CEO Mark Zuckerberg was on the hill testifying in front of the house finance committee. The topics of conversation surrounded the Libra cryptocurrency that Facebook is looking to launch. Facebook shares rallied on Wednesday despite the touch questioning in front of congress.

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