Stocks traded slightly higher on Wednesday after sliding a day earlier, as investors weighed optimism over widespread post-pandemic business reopenings against concerns over economic overheating.
Stocks traded lower on Tuesday as the major indexes pulled back after rallying a day earlier. Each of the S&P 500, Dow and Nasdaq erased earlier gains to trade lower intraday. On Monday, the S&P 500 jumped by 2.4% for its best session since June 2020, while the Nasdaq jumped 3% to recuperate some losses after technology stocks slumped last week. Shares of Zoom Video Communications, a darling of the "stay-at-home" trade, jumped more than 7% overnight after the company delivered earnings results and guidance that far exceeded expectations, helping assuage fears of a slowdown as more in-person activities resume. Wells Fargo Investment Institute Senior Global Equity Strategist Scott Wren and Raymond James CIO Larry Adam joined Yahoo Finance Liv to discuss.
Yahoo Finance’s Alexis Christoforous and Rep. Don Beyer (D-VA), Vice Chair of the Joint Economic Committee, discuss the new ultra-millionaire wealth tax proposal.