Shares of telecommunications companies rose, but not by as much as the broad market as traders rotated into more economically cyclical areas.
"As the US economy moves from a disinflationary boom to a more inflationary growth cycle ... [there's likely to be a] rotation towards new macro winners financials, industrials and energy," said analysts at brokerage Jefferies, in a note to clients.
Continue Reading Below
Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
January 12, 2018 16:43 ET (21:43 GMT)