Tech stocks lead Wall Street surge

Tech stocks lead Wall Street surge

On Wednesday, the S&P 500 as well as the Nasdaq reached record maximums for the fourth straight session in a surge led by technology businesses because market sentiment was backed by optimism over everlasting trade talks.

Apple Inc led the technology sector's jump because the iPhone maker's equities reached an all-time maximum. The sector pushed all three key American indexes up.

Besides this, the FAANG group of momentum equities was also boosted by Morgan Stanley's price target leaps for Amazon.com as well as Alphabet Inc. The remaining FAANG equities, Netflix Inc and Facebook dived a bit.

The Commerce Department uncovered its second reading of second-quarter GDP, disclosing that the American economy rallied at an upwardly-updated annual rate of about 4.2% in the quarter, which is its best performance for almost four years.

Moreover, the Dow Jones Industrial Average rallied by 0.21% hitting 26,119.37. As for the S&P 500, it managed to jump by 0.49% showing 2,911.83. The Nasdaq Composite soared by 0.84% coming up with 8,097.58.

Of the 11 key sectors of the S&P 500, 7 found themselves in positive territory. As for the largest percentage profits, they were observed in the consumer discretionary as well as technology sectors.

By the way, consumer discretionary equities were boosted by Amazon.com's 3% jump.

Restaurant operator Yum China Holdings Inc managed to extend its surge. It added 5.2% having rejected a $17.6 billion buy-out bid from China’s consortium.

The equities of American Eagle Outfitters Inc went down by 7% having posted gloomy second quarter outcomes.

As for other specialty apparel retailers, they inched down too.

On the NYSE, advancing issues managed to outclass diving ones by a 1.68-to-1 ratio.

The S&P 500 reported 58 fresh 52-week maximums as well as 1 fresh minimum. The Nasdaq Composite demonstrated 101 fresh maximums and 20 new minimums.

 

 

Similar

American futures tack on

On Thursday, American equities jumped a bit due to the fact that market participants set aside fears over the everlasting trade conflict between China and America and turned their focus to economic data as well as earnings out later in the trading…

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera