Fri. Oct 30th, 2020

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Wall Street closes up on tech rally

1 min read
Wall Street shares lower

Wall Street

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.

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.

Apple Inc AAPL.O, Amazon.com Inc AMZN.O, Nvidia Corp NVDA.O and Facebook Inc. FB.O, stocks that have outperformed at a time of increased economic uncertainty, all rose.

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.

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