US: Stocks bounce, shrugging off economic doubts

[NEW YORK] Wall Street stocks shrugged off doubts about the US economy and powered higher Thursday, with Apple soaring ahead of an expected product launch next week.The broad-based S&P 500 advanced 1.1 per cent to 2,854.88, while the tech-rich Nasdaq Composite Index jumped 1.4 per cent to 7,838.96.

The gains came a day after the Federal Reserve surprised markets with a dovish policy decision that analysts said raised doubts about the US economic outlook.But Thursday's performance showed investors believe"the Fed will do what it can to please the markets," said Meeschaert Financial Service's Gregori Volokhine, adding that money managers fear losing out on more gains later in the year.Apple surged 3.

Chip companies also had a strong day, with Advanced Micro Devices winning 8.5 per cent, Western Digital 9.8 per cent and Micron Technology 9.6 per cent following results from Micron. Levi Strauss, returning to the public markets for the first time in nearly 35 years, soared 31.9 per cent from its initial public offering price.

But biotech company Biogen plunged 29.2 per cent after it halted clinical trials for a medication once thought to offer promise for treating Alzheimer's disease.

United States United States Latest News, United States United States Headlines

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

Singapore investors snap up US stocks in Q4 amid Wall St plungeTHE final quarter of 2018 saw the US market taking its biggest fall in almost a decade, with investors from virtually everywhere cashing or pulling out - except those based in Singapore. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Tokyo: Stocks open higher tracking gains in US shares[TOKYO] Tokyo stocks opened higher on Monday, tracking gains on Wall Street due to optimism over US-China trade talks, with investors closely eyeing the US Federal Reserve's meeting later this week. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Banks, oil companies lift US stocksNEW YORK: Wall Street stocks finished higher on Monday (Mar 18), with gains from petroleum companies and banks more than offsetting another drop ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US: Banks, oil companies lift stocks[NEW YORK] Wall Street stocks finished higher on Monday, with gains from petroleum companies and banks more than offsetting another drop in Boeing shares. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

US stocks bounce, shrugging off economic doubtsNEW YORK: Wall Street stocks shrugged off doubts about the US economy and powered higher on Thursday (Mar 21), with Apple soaring ahead of an ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »