REFILE-US STOCKS-S&P 500 ends up slightly, tech-related shares underperform value [Reuters]
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Source: Reuters
S&P 500 ends up slightly, tech-related shares underperform value (Reuters) - The S&P 500 ended up slightly and the Nasdaq fell on Monday as investors extended a rotation into value stocks from heavyweight tech-related names while awaiting news on progress in a U.S. fiscal support bill. The Nasdaq, which hit a record high every day of last week, was dragged lower by Microsoft Corp ( MSFT.O ), Amazon.com Inc ( AMZN.O ) and Facebook Inc ( FB.O ). The Dow sharply outperformed the other two major indexes. Value stocks, which tend to outperform growth coming out of a recession, have gotten a lift in recent days. The Russell 1000 value .RLV index rose, while the Russell 1000 growth .RLG index slipped. Similar rotations in recent years have not lasted very long, said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago. “Part of the reason the S&P 500 has been held back is we’re starting to see yet another rotation to value and away from growth,” he said. “That ten
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