Stocks rise on Wall Street, remain on track for winning week | amNewYork

The S&P 500 rose 1.1% as of 10:15 a.m. Eastern. The Dow Jones Industrial Average rose 362 points, or 1.2%, to 30,678 and the Nasdaq rose 0.7%.

Technology and health care companies has some of the strongest gains. Apple rose 1.2% and Pfizer rose 4.3%. Social media companies were broadly lower after Snapchat’s parent company issued a weak forecast and the Washington Post reported that Elon Musk plans to slash about three-quarters of the payroll at Twitter after he buys the company. Snap slumped 29.2% and Twitter shed 4.3%.

The yield on the 10-year Treasury note, which affects mortgage rates, remained relatively stable at 4.24% from late Thursday. The yield on the two-year Treasury, which tends to track investors’ expectations for Federal Reserve action on interest rates, fell to 4.53% from 4.61%. Markets have been unsettled in recent days. Stocks lurched from sharp gains early in the week to losses later in the week. The benchmark S&P 500 and other major indexes are all still on track for weekly gains in what has been an encouraging October so far.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market live: Dow up over 200 points as Wall Street shakes off initial gloomWall Street weighing possibility that the Fed won’t supersize its next rate hike Clarification: Wall Street is considering the possibility that the Federal Reserve's rate hike in December, not in November, will be of a lesser magnitude.
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock-market selloff may mean another 20% drop for S&P 500, says Wall Street veteranThomas Peterffy, the chairman and founder of Interactive Brokers Group, thinks the S&P 500 index could decline nearly 20% from Wednesday’s level to bottom at around 3,000. Covid lows incoming at minimum
Source: MarketWatch - 🏆 3. / 97 Read more »