Stocks rebound in late-day rally on Wall Street

NEW YORK: U.S. stocks rose in a late-day rally on Thursday as investors bought stocks likely to do well in the recovery, while picking up beaten-down Apple and Tesla shares, in anticipation that the U.S. economy grows at its fastest pace in decades this year.

"It's a very confused stock market, there isn't real leadership," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. "Any reverse correlation between the Dow and Nasdaq is pretty embedded right now, and I expect it will continue," Bahnsen said."There is ongoing rotation out of tech, there's ongoing de-risking for some of the small caps."

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Tech stocks drag Wall Street lower at openWall Street's main indexes opened lower on Thursday, dragged down by heavyweight technology stocks, while data showed jobless claims fell last ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Tech stocks drag Wall Street lower in choppy tradeThe technology-heavy Nasdaq led Wall Street lower on Thursday as a rotation out of richly valued stocks into underpriced sectors added to pressure ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Wall Street opens lower as spike in yields pressures tech stocksWall Street's main indexes opened lower on Tuesday as a rise in U.S. bond yields hit heavyweight tech-related stocks, while undervalued banks and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Wall Street drops as tech stocks hit by spike in yieldsWall Street's main indexes opened lower on Tuesday as a rise in U.S. bond yields hit heavyweight tech-related stocks, while undervalued banks and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »