By Bansari Mayur Kamdar and Shreyashi Sanyal
(Reuters) – U.S. stock indexes rose on Thursday on strong corporate earnings reports, as a bargain hunt spurred mega-cap growth companies after the Nasdaq index plunged into correction territory in the previous session.
The Nasdaq has had a rough two months since hitting a record high in November, with investors dumping tech stocks in anticipation of the US central bank aggressively raising interest rates to tame inflation.
Recovering slightly from Wednesday’s sell-off, companies including Microsoft Corp, Alphabet Inc, Amazon, Tesla Inc and Meta Platforms Inc were up as much as 2.5%.
“We took a lot of damage in a very short period of time, and that tends to cause a reflex recovery. It won’t be long before the bargain hunters come out and change that a little bit,” said Art Hogan, chief market strategist at National Securities in New York.
Netflix, which after the market closes to kick-start earnings reports for large growth companies, gained 1.4%.
Wall Street is waiting on Netflix’s results to see if companies have started attracting enough new customers to justify massive spending on online programming in 2022.
The Federal Reserve’s monetary policy meeting next week will aim to clarify the central bank’s plan to rein in inflation, after data this month showed the country’s consumer prices rose to an all-time high. in four decades in December.
At 12:57 (GMT), the S&P 500 index gained 1.23%, at 4,588.53 points, while the Dow Jones was up 1.17%, at 35,439.30 points. The Nasdaq Composite technology index rose 1.97% to 14,622.76 points.
(By Bansari Mayur Kamdar and Shreyashi Sanyal)
know more
+ SP: Man dies standing, leaning against car, and scene scares residents on the coast
+ One twin became vegan, the other ate meat. Check the result
+ Reincarnation in history: an age-old belief
+ Andressa Urach asks for money on the internet: ‘Help me pay my card bill’
+ Horoscope: check today’s forecast for your sign
+ CNH: see what you need to know for the application and renewal
+ See which were the most stolen cars in SP in 2021
+ Expedition identifies giant squid responsible for ship sinking in 2011
+ Everything you need to know before buying a crockpot
+ US Agency warns: never wash raw chicken meat
+ What is known about fluorone?
+ Trick to squeeze lemons becomes a craze on social media
+ IPVA 2022 SP: see how to consult and pay the tax
#Wall #rises #bargain #hunting #positive #balances #ISTOÉ #DINHEIRO