Wall Street is recovering with the rebound in tech stocks

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WALL STREET ENDS ON A RISE

by Herbert Lash

(Reuters) – The New York Stock Exchange rallied on Thursday, benefiting from a rebound in tech stocks, but the rise was moderated by uncertainties about the economic recovery in the United States in light of mixed indicators .

The Dow Jones index gained 52.31 points (0.2%) to 26,815.44.

The larger S & P-500 gained 9.67 points, or 0.30%, to 3,246.59.

The Nasdaq Composite, for its part, advanced 39.28 points (0.37%) to 10,672.27 points. He had lost 3% on Wednesday.

The heavyweights of the rating in the technology sector carried the trend, like Apple (+ 1.03%) or Amazon (+ 0.66%), after contributing to the sharp drop from the previous day.

“Investors are going to need stocks that can withstand a lower growth path because if there is no new budget support plan for activity, there will be nothing left for us. can do to continue to support the economic recovery, “said Max Gokhman,” strategist “at Pacific Life Fund Advisors.

Wall Street had also opened lower after the announcement of a surprise increase in jobless claims in the United States, validating the scenario of a slowdown in the economic recovery feared by investors.

The S&P-500 thus briefly lost more than 10% from its record in the September 2 session, which, if it had remained below that threshold at the close, would have placed it in correction territory.

New home sales, however, hit a nearly 14-year peak in August, the Commerce Department later said, helping reassure investors.

The high-tech consulting and services group Accenture fell 7% after a lower-than-consensus revenue forecast and quarterly results deemed disappointing.

(French version Bertrand Boucey)

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