Wall Street ends week higher but posts monthly loss

Traders work on the floor of the New York Stock Exchange in New York U.S

Technology companies powered USA stocks to solid gains Thursday, snapping the market's two-day losing streak.

Still, the S&P 500 and the Dow are on track to log their worst quarter in more than two years on concerns over a global trade war and aggressive interest rate hikes, as well as a rout in technology stocks caused by the Facebook data scandal.

Tech stocks reversed course on Thursday and the S&P 500 information technology index .SPLRCT closed up 2.2 percent after reaching a session high of 3.2 percent, helping push the S&P 500 up 1.4 percent, with the Dow and Nasdaq also rallying.

us stocks rebounded strongly on Thursday as investors digested a batch of generally positive economic reports.

USA stock markets will be closed on Friday due to the Good Friday holiday.

After years of slow and steady growth and a roaring start to 2018, the market plunged in early February, marking its first 10 percent drop in two years.

"People are anxious about rising interest rates".

Wall Street surged on Thursday, bringing an upbeat end to a tumultuous, holiday-shortened week as technology stocks rebounded, but the S&P 500 and the Dow Jones Industrial Average posted their biggest quarterly declines in more than two years.

Facebook had recovered in early trading, adding 0.7 percent, but Tesla shares sank more than five percent after Moody's downgraded the company's debt, and Google-parent Alphabet was slightly lower.

The heaviest losses occurred on the Nasdaq, as the tech-heavy index lost 0.9%, battered by more negative headlines.

The group is up 14 percent so far this year, but privacy concerns in the wake of Facebook's scandal almost two weeks back has wiped $400 billion off their value. GDP expanded at a 2.9 percent annual rate in the last three months of 2017, ahead of the previously reported 2.5 percent.

PVH, which owns Calvin Klein and Tommy Hilfiger, climbed $7.41, or 5.1 percent, to $151.43, while beverage maker Constellation Brands rose $7.43, or 3.4 percent, to $227.92.

Related:

Comments

Latest news

Overwatch Uprising Teaser Hints at New Event Name
If you notice closely, when the video glitches it references a classified "File 00274" that was recorded eight years ago. In addition, the name of the event may be changed to Blackwatch Archives or simply Archives.

Philadelphia 76ers' Joel Embiid May Only Miss 1 Playoff Game
There is now no timetable for Joel's recovery, and Joel will return to play when it is safe and medically advisable. That would definitely rule Embiid out for the rest of regular season, and possibly the first round of the playoffs.

Joseph Parker speaks on defeat to Anthony Joshua
As soon as the fight was done Parker said "Today I got beaten by a bigger man". "I have a lot to work on and it was a good experience being here".

Daniels lawyer asks to take deposition from President Trump - court document
Avenatti also asked for a jury trial to be set no later than 90 days from any decision on the request for depositions. The requests states that this would not interfere with Trump's responsibilities as president.

Other news