Tag: tech

S&P 500 and Nasdaq rise as investors buy tech shares beaten up this week

The S&P 500 and Nasdaq Composite rose on Wednesday as tech shares recovered some of their losses from earlier in the week at the expense of names who would benefit from an economic recovery.

The broader-market index closed 0.8% higher at 3,572.66 and the Nasdaq jumped 2% to 11,786.43. The Dow Jones Industrial Average — which had been the stalwart early this week — struggled, falling 23.29 points, or 0.1%, to 29,397.63.

Apple gained 3%. Netflix climbed 2.2%. Facebook and Amazon rose 1.5% and 3.4%, respectively. Alphabet closed 0.6% higher, and Microsoft was up by 2.6%.

American Express fell 4.2%

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Dow rises slightly as Fed pledges to keep rates low, tech stocks weigh on broader S&P 500

The Dow Jones Industrial Average eked out a small gain on Wednesday after the Federal Reserve indicated it will keep interest rates lower over the next few years. However, the broader market S&P 500 struggled as shares of major tech companies declined. 

The 30-stock Dow closed 36.78 points higher, or 0.1%, at 28,032.38. The S&P 500, meanwhile, slid 0.5% to 3,385.49. The tech-heavy Nasdaq Composite dropped 1.3% to 11,050.47. Both the Dow and S&P 500 hit their session highs after the Fed’s announcement was released, but they quickly gave back those gains. 

Apple dropped nearly 3%. Facebook ended

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