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Wall Street inches higher in pivot back to growth stocks

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Wall Street rose modestly after two days of strong gains. Lackluster jobs data and mixed earnings sent investors back to growth and tech stocks

slid 5.0% after its current-quarter revenue forecast cast concerns as to whether chipmaker will be able to meet spiking demand in the face of a global semiconductor shortage.Declining issues outnumbered advancing ones on the NYSE by a 1.70-to-1 ratio; on Nasdaq, a 1.82-to-1 ratio favored decliners.

The S&P 500 posted 38 new 52-week highs and no new lows; the Nasdaq Composite recorded 60 new highs and 41 new lows. Reporting by Stephen Culp" Additonal reporting by Devik Jain and Shreyashi Sanyal in Bengaluru Editing by Marguerita ChoySubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.

 

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