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S&P 500, Dow set to open higher shrugging off bleak GDP, jobless claims data

4 Min Read NEW YORK (Reuters) - U.S. stocks closed higher on Thursday, bouncing from sharp losses in the prior session, thanks to a broad rally as earnings season got off to a strong start and fears lessened around hedge funds selling long positions to cover shorts. Heavyweights, including Microsoft Corp, Amazon.com and Alphabet Inc, were among the biggest boosts to the S&P 500, a day after the three major U.S. indexes suffered their biggest daily percentage drop in three months. Apple reported holiday-quarter sales and profit that beat Wall Street expectations. However, shares of the iPhone maker fell 3.50% after climbing about 7% to start the year.

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Wall St jumps on big-tech strength, short squeeze worries ease

4 Min Read NEW YORK (Reuters) - U.S. stocks closed higher on Thursday, bouncing from sharp losses in the prior session, thanks to a broad rally as earnings season got off to a strong start and fears lessened around hedge funds selling long positions to cover shorts. Heavyweights, including Microsoft Corp, Amazon.com and Alphabet Inc, were among the biggest boosts to the S&P 500, a day after the three major U.S. indexes suffered their biggest daily percentage drop in three months. Apple reported holiday-quarter sales and profit that beat Wall Street expectations. However, shares of the iPhone maker fell 3.50% after climbing about 7% to start the year.

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Wall St rises on big-tech strength, shrugs off bleak data

NEW YORK (Jan 28): Wall Street s main indexes rose on Thursday, as a reversal of declines in mega-cap technology stocks helped investors look past data which showed another sharp contraction in the US economy. Heavyweights including Microsoft Corp, Facebook Inc, Netflix Inc and Alphabet Inc rose in early trading, supporting the tech-heavy Nasdaq index. With the quarterly reporting season in full swing, market participants started to question whether companies including Apple Inc, Facebook and Tesla Inc could justify their premium valuations. Investors are digesting earnings that came out overnight and this morning, and taking a look at the fundamentals of what s going on in specific companies, as well as any outlook that can be provided to try to justify valuations, said Brian Vendig, managing executive at MJP Wealth Advisors in Westport, Connecticut.

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Wall St rises on big-tech strength, shrugs off bleak data

Wall St rises on big-tech strength, shrugs off bleak data
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Australian shares to recover from $46b sell-off, following Wall Street s rebound

ASX swings to red as Wall St futures point to further falls, Domino s returns JobKeeper payments Posted ThuThursday 28 updated FriFriday 29 The ASX gave up strong early gains to finish in the red. ( Print text only Cancel The Australian share market gave up morning gains to finish in the red again, as US share futures point to renewed losses on Wall Street tonight. Australian shares had been rebounding from yesterday s heavy sell-off, which wiped $46 billion off the market and took it to a three-week low. Both the benchmark ASX 200 and broader All Ordinaries indices were up 1.2 per cent in early trade.

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