Technology stocks were benefiting from another drop in bond yields, which have been the driving force for the market for several weeks. The yield on the 10-year U.S. Treasury note fell to 1.68% from 1.73% the day before. Higher bond yields make stocks seem more expensive by comparison, and tech stocks are among the most expensive after their significant rise last year.
Electric vehicle charger operators ChargePoint and Blink Charging were up 6.5% and 3.3%, respectively. Both companies were benefiting from news in Washington, where Biden outlined various measures to support their use as part of his massive infrastructure plan. Part of that plan includes installation of thousands of additional charging stations around the country to make electric car usage more accessible.