US: Wall Street rebounds as market eyes tech results, strong economic data

Tech companies have seen demand surge for their products and services from people stuck at home during the pandemic.

Alphabet reported revenue rose to US$46.17 billion from US$40.5 billion a year earlier as the company returned to sales growth in the third quarter as businesses initially hobbled by Covid resumed advertising.The NYSE FANG+TM Index closed 3.85 per cent higher.Sentiment also got a boost from data showing the US economy grew at a record pace in the third quarter after the government poured out more than US$3 trillion of pandemic aid.

Democratic challenger Joe Biden holds a comfortable lead over President Donald Trump in national polls, but the race in battleground states that will likely decide the election are tighter than the national surveys.

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