Stocks buoyed by tech rebound; Dudley remarks lift Treasury yields | Reuters

By Chuck Mikolajczak

NEW YORK World stock markets climbed on Monday as technology and retail stocks rebounded from recent weakness and U.S. Treasury yields rose in the wake of hawkish comments from a Federal Reserve official.

The tech sector .SPLRCT, up 1.7 percent, pushed equity indexes on Wall Street higher, with the Dow and S&P 500 closing at records. The group had fallen 3.4 percent over the past two weeks but are up nearly 19 percent on the year.

“From a technical standpoint you know there are throngs of investors probably sitting on the sidelines watching that tech rally, wanting to be part of it,” said Jack Ablin, chief investment officer at BMO Private Bank in Chicago.

“Any incremental downturn looked more like an opportunity than a threat.”

Retailers in Europe .SXRP, closed up 0.8 percent, and in the U.S. .SPXRT, gained 0.9 percent,…

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