Benchmark US equity indices retreated further overnight amid a fresh unwind of the technology sector and with investors monitoring a fresh rise in bond yields - Dow down -89-points or -0.35% after trading as much as +142-points higher earlier in the session. The broader S&P500 -0.59%, with Information Technology (down -1.64%) leading the sector weakness. NASDAQ -0.88%., with Apple Inc and Netflix Inc pulling back -1.8% apiece following some cautious research notes on both companies from Goldman Sachs. More broadly, Goldman Sachs Chief US Equity Strategist David Kostin said it is time to buy into growth stocks as last week’s sell-off is largely over - “We see limited further downside, ” Kostin wrote in a note. “Despite the recent sell-off, equity fundamentals are strong and we remain constructive on the path of the S&P 500.” In notable stock news and moves, Sears Holdings Corp sank -24% after the iconic retailer filed for bankruptcy protection from creditors
