Wall Street Close: Buyers market, tech bounces back
- Dow Jones Industrial Average rose 439.78 points or 1.6%.
- S&P 500 gained 67.22 points, or 2.02%.
- Nasdaq composite added 293.87 points, or 2.71%.
US stocks on Wall Street bounced on Wednesday and climbed back from the lowest grounds since the start of August's trade.
The main indexes snapped a three-session losing skid as investors piled in to take advantage of the pullback in technology-related stocks following the day when the Nasdaq confirmed correction territory, ending 10% below its Sept. 2 record closing high.
On the tech front, the top three US public companies by market capitalization, Apple Inc AAPL, Microsoft Corp MSFT and Amazon.com Inc AMZN, each rose by at least 3%. Meanwhile, Tesla Inc TSLA shares recovered after suffering their biggest one-day percentage drop in the prior session.
Other stay-at-home winners such as Facebook Inc FB and Google-parent Alphabet Inc GOOG also made their comebacks.
The only data on the slate was US July JOLTS job openings that were 6618, compared with 6001 in June.
Given an absence of fresh economic news or new policy initiatives, the price action suggests that strong buying interest remains on market corrections given the backdrop of ample central bank liquidity,
analysts at ANZ bank explained.
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Author
Ross J Burland
FXStreet
Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.
