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US: Tech leads as stocks rise at start of big earnings week

  • 📰 BusinessTimes
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[NEW YORK] The Nasdaq rallied on Monday, with large technology shares gaining ahead of earnings reports and semiconductor stocks surging on expectations the sector is primed for good results. Read more at The Business Times.

[NEW YORK] The Nasdaq rallied on Monday, with large technology shares gaining ahead of earnings reports and semiconductor stocks surging on expectations the sector is primed for good results.

Shares of Amazon, Facebook and Google parent Alphabet all rose ahead of earnings this week, along with Apple, which gained 2.3 per cent after Morgan Stanley lifted its price target.Market voices on: Chip stocks were especially strong after Goldman Sachs upgraded several companies in the sector and said oversupply in the industry would be sold off more quickly than previously thought.

Halliburton surged 9.2 per cent despite reporting lower second-quarter profits after it described increased oil and gas activity.

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