Tech stocks weigh Nasdaq

    On Monday, U.S. stocks were mixed, with blue chips and small-cap stocks perform strong; large technology stocks were weaker, with the Nasdaq closing down 0.5%.

    The data showed that although the manufacturing industry was still expanding in April, it has cooled down. The ISM manufacturing index fell from the high point in March to 60.7%, raw material prices indicator jumped to the highest level since 2008. The Fed continued to stress that inflation was manageable and the economy was recovering, but growth was uneven.

    Energy, industrial and raw materials sectors which are economically sensitive are all performing strongly, and stocks that benefited from the reopening of the economy, such as the retail sector, all had decent gains, pushing the Dow higher. Technology, software and semiconductors were all weak, and the telecom and consumer sectors fell.

      How will the market perform this year? What investors have to do is not to guess, but to adjust their investment strategies at any time according to the price and volume performance of the market and the rotation on the industry sector. Earnings, economic recovery and pandemic outbreak will remain the focus of the market.