US STOCKS Technology Stocks, Industrials Boost Wall Street

US stocks closed higher on Thursday, with the Nasdaq finishing at a record, as top technology names soared and industrials rebounded from losses driven by trade worries the day before.

The Dow Jones Industrial Average added 224 points, or 0.91%, to 24,925, the S&P 500 gained 24 points, or 0.87%, to 2,798 and the Nasdaq Composite added 107 points, or 1.39%, to 7,824.

Shares gained after positive US jobless data on Wednesday provided a market boost, with labour market conditions remaining robust in early July.

Technology companies - including Facebook, Microsoft and Amazon - hit all-time intraday highs, helping to power the Nasdaq stock exchange to a record high.

CA Inc jumped 18.7% and was the biggest percentage gainer in the S&P 500 after chipmaker Broadcom announced a surprise $18.9-billion deal to buy the business software company. Broadcom slumped 13.7%.

The US late on Tuesday threatened to impose tariffs on $200 billion worth of Chinese goods. China said the two countries have not been in touch about restarting talks and while it does not want a trade war, it would fight if necessary.

Boeing and Caterpillar, among the hardest hit by the trade dispute, rose more than 1% each, boosting the Dow.

Delta Air Lines gained 1.8%, and lifted other airline stocks, after the carrier's quarterly profit topped estimates on higher average fares.

Shares of Wells Fargo ended down 0.1% while those for JP Morgan Chase finished up 0.4%. Citigroup Inc.’s stock rose 0.9%. All three are set to report their results on Friday before the market opens.

In Asia, shares extended gains on Friday in morning session taking cue from Wall Street as there was some relief coming from the lack of escalation in trade tensions between the US and China.

Japan's Nikkei 225 jumped 1.26% as stocks extended Thursday's gains. In Hong Kong, the Hang Seng Index edged higher by 0.48%, while the Shanghai composite slipped 0.31%. Elsewhere, South Korea's Kospi climbed 1.02%. Australian stocks bucked the overall trend, with the S&P/ASX 200 slipping 0.15%.

 

Source : http://citywire.co.uk/money/overnight-markets-wall-street-rebounds-with-tech-stocks/a1137968

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US STOCKS Technology Stocks, Industrials Boost Wall Street

Source:Citywire

US STOCKS Technology Stocks, Industrials Boost Wall Street

US STOCKS Technology Stocks, Industrials Boost Wall Street

Source:Nasdaq

US STOCKS Technology Stocks, Industrials Boost Wall Street

US STOCKS Technology Stocks, Industrials Boost Wall Street

Source:Reuters

US STOCKS Technology Stocks, Industrials Boost Wall Street

US STOCKS Technology Stocks, Industrials Boost Wall Street

Source:Reuters

US STOCKS Technology Stocks, Industrials Boost Wall Street

US STOCKS Technology Stocks, Industrials Boost Wall Street

Source:Citywire

US STOCKS Technology Stocks, Industrials Boost Wall Street