NEW YORK, New York - U.S. stocks finished mixed on Wednesday after a choppy day of trading.
"The trend we're seeing today is investors rotating back into growth-oriented names that have gotten a little bit beaten up over the past few weeks or so due to underlying rotation toward the economic reopening stocks," Michael Sheldon, chief investment officer at RDM Financial Group at Hightower told Reuters Thomson Wednesday.
Some cyclical sectors could also be taking a breather from their rise because of the recent strength in the dollar, he said.
"That's probably had some impact on commodity prices, industrial stocks, and possibly financials as well."
The tech sector starred Wednesday with the Nasdaq Composite closing 201.48 points or 1.54 percent higher at 13,246.87.
The Dow Jones industrials sank 85.41 points or 0.26 percent to 32,981.55.
The Standard and Poor's 500 dropped 14.34 points or 0.36 percent to 3,972.89.
The U.S. dollar remained bid throughout Thursday. The euro spent the day bottom-fishing, finishing the day in New York around 1.1725. The British pound perked up a bit to 1.3786. The Japanese yen too firmed a fraction to 110.74. The Swiss franc eased to 0.9454.
The Canadian dollar was a tad higher at 1.2568. The Australian dollar was unchanged at 0.7597. The New Zealand dollar added a few points to 0.6982.
In Europe, the German Dax was flat, finishing with just a 0.27th of a point loss. The Paris-based CAC 40 was off 0.34 percent. In London, the FTSE 100 lost 0.86 percent.
On Asian markets, in Tokyo, the Nikkei 225 shed 253.90 points or 0.86 percent to 29,178.80.
The Australian All Ordinaries gained 75.20 points or 1.08 percent to 7,045.00.
The Hang Seng in Hong Kong gave up 199.15 points or 0.70 percent to 28,378.35.
China's Shanghai Composite lost 14.76 points or 0.45 percent to 3,441.91.