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.
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.