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The U.S stocks increased on Wednesday and large technology companies lifted Nasdaq to another record close as investors continued to shrug off higher numbers of coronavirus cases in the United States.
The Nasdaq Composite Index, led by Amazon.com (AMZN.O), climbed by 1.4% to 10,492.50 on its fourth record in five Wall Street sessions.
Apple Inc (AAPL.O) and Microsoft Corp (MSFT.O) brought the biggest increase to Dow Jones Industrial Average by 0.7% to 26,067.28 and S&P 500 Technology Index by 0.8% to 3,169.94. Investors viewed the market's pullback as a buying opportunity after major indices had tumbled on Tuesday but resumed upward climb on Wednesday.
"It's been a tug of war between investors that believe the data is getting incrementally and sequentially better, and investors concerned about the increase in case discoveries of Covid-19 and what that will be mean to the reopening plans of the economy," National Securities' Chief Market Strategist Art Hogan stated.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
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