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Tech stocks extend S&P 500’s rally to seventh straight session | Malay Mail

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NEW YORK, Aug 28 — The S&P 500 rose today, extending a six-day rally led by technology stocks as the prospect of super-low interest rates for a prolonged period and bets on a medical solution to the Covid-19 pandemic spurred risk appetite. The tech sector’s 0.7 per cent rise provided the...

A Wall Street sign is seen in front of the New York Stock Exchange in New York's financial district, March 4, 2013. — Reuters pic

The Federal Reserve on Thursday unveiled a plan to support inflation and restore the US economy from its biggest downturn since the Great Depression. The S&P 500 and the Nasdaq have scaled record highs and the benchmark is on track for its best August in 34 years, partly powered by a rally in technology stocks, while the blue-chip Dow traded above the break-even level for 2020.

Meanwhile, the US election campaign entered its final stretch with US President Donald Trump’s Republican nomination for a second term. Analysts expect market volatility to increase again ahead of voting in November. Coca-Cola Co gained 0.8 per cent as it announced plans to nearly halve its operating units and offer voluntary separation to 4,000 workers.

 

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