All three major U.S. indexes were set for their best monthly gains since February, with the Dow touching yet another record high.
“We’ve been in a little bit of pull-back on some of the tech stocks for the last few days. I think it’s just a matter of the fact that they have had a very strong run,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.
“The bull market is sort of broadening out and people are taking a few profits off the table on some these stocks that have done exceedingly well.”
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