Dow Jones futures fell slightly overnight, along with S&P 500 futures and Nasdaq futures, with Dow giant Walt Disney headlining after-hours earnings. The stock market rally had another strong session Wednesday, but Thursday's CPI inflation report looms large. Read More...
Reuters
Wall Street ends sharply higher, lifted by Big Tech
Wall Street jumped on Wednesday, closing sharply higher as megacap growth stocks powered up thanks to a pause in rising interest rates, and upbeat earnings reports also encouraged investors to buy. “The bond market basically is saying there’s a cap or a limit to how much the Fed is likely to raise rates, and that is very positive for stocks in general, and especially for growth stocks that tend to be valued higher,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York. Hit by worries about rising interest, the tech-heavy Nasdaq has fallen more than 7% so far this year after gaining nearly 21% in 2021.
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