{"id":122422,"date":"2021-10-05T19:36:44","date_gmt":"2021-10-05T19:36:44","guid":{"rendered":"https:\/\/fin2me.com\/?p=122422"},"modified":"2021-10-05T19:36:44","modified_gmt":"2021-10-05T19:36:44","slug":"microsoft-apple-and-other-techs-roar-back-as-wall-street-rebounds","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/microsoft-apple-and-other-techs-roar-back-as-wall-street-rebounds\/","title":{"rendered":"Microsoft, Apple and other techs roar back as Wall Street rebounds"},"content":{"rendered":"

(Reuters) – Wall Street surged on Tuesday, as Microsoft and Apple spearheaded a rebound in growth stocks and investors awaited monthly payrolls data later in the week that could influence the Fed\u2019s decision on when to scale back massive monetary stimulus.<\/p>

FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 29, 2021. REUTERS\/Brendan McDermid <\/figcaption>

Apple, Microsoft, Amazon and Alphabet, Wall Street\u2019s most valuable companies, each jumped more than 2% following a selloff in growth stocks the day before.<\/p>\n

Facebook Inc rose 2.2% the day after it took a beating when its app and its photo-sharing platform Instagram went offline for hours before being restored late in the evening.<\/p>\n

Ten of the 11 major S&P 500 sector indexes rose, with financials, communication services and technology each up more than 2%.<\/p>\n

The S&P 500 was on track for a fourth straight day of 1% moves in either direction. The last time the index saw that much volatility was in November 2020, when it rose or fell 1% or more for seven straight sessions.<\/p>\n

\u201cWe\u2019re buying the dip, but the dip isn\u2019t 10% anymore. The dip is now 2%, or 4%,\u201d said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. \u201cPeople are trained like Pavlov\u2019s dog to buy the dip, which is reinforcing all of this.\u201d<\/p>\n

Technology stocks and other high-growth stocks took a beating on Monday as U.S. Treasury yields ticked higher amid concerns about a potential U.S. government debt default. [US\/]<\/p>\n

The Senate will vote on Wednesday on a Democratic-backed measure to suspend the U.S. debt ceiling, a key lawmaker said on Tuesday, as partisan brinkmanship in Congress risks an economically crippling federal credit default.<\/p>\n

Investors will watch September employment data on Friday for hints about the tapering of the U.S. Federal Reserve\u2019s asset purchase program.<\/p>\n

Adding to concerns the Fed could tighten monetary policy sooner than expected, recent data showed increased consumer spending, accelerated factory activity and elevated inflation.<\/p>\n

Data from the Institute for Supply Management showed its U.S. non-manufacturing activity index edged up to a reading of 61.9 last month from 61.7 in August.<\/p>\n

In afternoon trading, the Dow Jones Industrial Average was up 1.34% at 34,458.49 points, while the S&P 500 gained 1.53% to 4,366.2.<\/p>\n

The Nasdaq Composite added 1.72% to 14,500.25.<\/p>\n

PepsiCo Inc gained about 1% after raising its full-year revenue forecast.<\/p>\n

Advancing issues outnumbered declining ones on the NYSE by a 1.63-to-1 ratio; on Nasdaq, a 1.48-to-1 ratio favored advancers.<\/p>\n

The S&P 500 posted 14 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 61 new highs and 180 new lows.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – Wall Street surged on Tuesday, as Microsoft and Apple spearheaded a rebound in growth stocks and investors awaited monthly payrolls data later in […]<\/p>\n","protected":false},"author":3,"featured_media":122421,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nMicrosoft, Apple and other techs roar back as Wall Street rebounds - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/microsoft-apple-and-other-techs-roar-back-as-wall-street-rebounds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Microsoft, Apple and other techs roar back as Wall Street rebounds - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – Wall Street surged on Tuesday, as Microsoft and Apple spearheaded a rebound in growth stocks and investors awaited monthly payrolls data later in [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/microsoft-apple-and-other-techs-roar-back-as-wall-street-rebounds\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-05T19:36:44+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/10\/Microsoft-Apple-and-other-techs-roar-back-as-Wall-Street-rebounds.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/microsoft-apple-and-other-techs-roar-back-as-wall-street-rebounds\/\",\"url\":\"https:\/\/fin2me.com\/business\/microsoft-apple-and-other-techs-roar-back-as-wall-street-rebounds\/\",\"name\":\"Microsoft, Apple and other techs roar back as Wall Street rebounds - 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