• Wall Street closes up on tech rally despite mixed signs on economic rebound

    25 Sep 2020 | SET News

Wall Street closes up on tech rally despite mixed signs on economic rebound

Wall Street rallied in a rocky session on Thursday as beaten-down technology shares gained favor after data showing a surge in the sale of new homes revived faith in the economic recovery even as U.S. jobless claims rose unexpectedly.

The Dow Jones Industrial Average .DJI closed up 52.31 points, or 0.20%, to 26,815.44. The S&P 500 .SPX gained 9.67 points, or 0.30%, to 3,246.59, and the Nasdaq Composite .IXIC added 39.28 points, or 0.37%, to10,672.27.

Stocks also reacted positively to news of efforts to enact further stimulus in Washington, helping lift the S&P to a session high, although the index then turned negative before retracing some gains.

The wild session indicated caution was in store, said Dennis Dick, a trader at Bright Trading LLC, who warned market sentiment that drove momentum has sharply changed.


Reference: Reuters

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