Investing.com – Wall Street rebounded on Tuesday as the rise in technology stocks boosted sentiment.
The stock rose 221 points or 0.9% at 9:51 am (13:51 GMT), while profits increased 25 points or 0.9%, and the number of tech experts rose 82 points or 1.1%.
The market was hit flat on Friday and Monday as a reversal of the yield curve triggered fears of a recession.
"The fact that the markets collapsed on Friday so much that people looked at the yield curve and the stock market and thought things were getting weaker, but this panic phase could be over," said Scott Brown, chief economist Raymond James. [1
Bed Bath & Beyond (NASDAQ) rose 29.2% after the Wall Street Journal had reported three activist capital attempts to replace their entire body because of concerns that the company was not responding well to e-commerce. Tesla (NASDAQ 🙂 gained 2.6% after a judge dismissed a claim for company model 3 production claims.
Apple (NASDAQ 🙂 rose 1.2% as analysts digested the news of its evolution toward subscription-based products, while Netflix (NASDAQ 🙂 fell 0.1%.
Elsewhere, NIO (NYSE 🙂 fell 4.9% on news that investors have sued the Chinese electric car maker for deception and alleged violations of US securities laws. at $ 1,322.15 a troy ounce, up 2.3% to a nearly four-month high of $ 60.18 a barrel. The one who measures the dollar against a basket of six major currencies rose 0.1% to 96.195.
– Reuters contributed to this report.
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