(Reuters) – Wall Street key indices rebounded on Friday, led by technology-related stocks, but fears of a coronavirus impact on the economy dampened investor sentiment, their longest weekly loss in a year.
Shares of Tech Mega-Caps, including Facebook Inc. F.B.O., Alphabet Inc. Google.o, Amazon.com Inc. AMZN.O, Apple Pal Inc. AAPL.O And Netflix Inc. NFLX.O., Which moves forward during economic uncertainty, has climbed between 0.5% and 2.3%.
Information Technology Index .SPLRCT Investors saw a 1.4% rise in value-linked stocks other than declines .IVX On signs of a slowdown in comprehensive economic recovery.
All three major U.S. stock indices were up for the fourth straight week of their decline – their longest weekly losing streak since August 2019.
Variability .VIX Investors have also been doing well as investors have turned their attention to clarifying more congressional stimulus ahead of the November 3 presidential election.
“You’ve achieved this nice recovery over the summer, and with the fall, the economy is a little weaker, especially with a lot of excitement about what we’re starting to control now,” said Mike Doodle, manager of BMO Global Asset Management in Chicago.
At 1:03 p.m., the Dow Jones Industrial Average averaged .DJI The S&P 500 was up 107.27 points, or 0.40%, at 26,922.71 .SPX 22.08 points or 0.68% to 3,268.67 and was in the Nasdaq Composite. .IXIC 135.07 points or 1.27% to 10,807.34.
S&P indust Industrial Area .SPLRCI U.S. Gust New orders for major capital goods created by showed a 9.9% increase in data, while energy stocks saw a 1.1% slide. .Sleep Put them on course for one of their worst weeks since a coronavirus crash in March.
Royal Caribbean Cruise Ltd. RCL.N., Norwegian cruise line NCLH.N. And Carnival Corp. CCL.N. Barclays surged more than 6% after upgrading its stock to “overweight”, a report said.
Boeing Co. Prohibition Europe’s chief aviation safety regulator said the aircraft manufacturer’s grounded 7,737mx has risen 3.4% since it could get regulatory approval to resume flying in November and enter service by the end of the year.
Costco Wholesale Corp. COST.O Coronavirus-related costs fell 1.9% in the second straight quarter in the warehouse chain.
Novavax Inc. NVX.O. The drug maker in the UK jumped 10.6% after launching a late-phase trial of its experimental COVID-19 vaccine.
Moving forward points have moved 1.49-to-1 on the NYSE and 2.31-to-1 on the Nasdaq.
The S&P index has a new 52-week high and no new lows, while the Nasdaq has 15 new highs and 35 new lows.
Report by Devik Jain in Bengaluru; Edited by Arun Kouyur and Anil de Silva
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