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US stocks open higher, are headed for another weekly gain

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Stocks open broadly higher on Wall Street, keeping the market on track for its second weekly gain in a row. Technology stocks were leading the way with Cisco and Applied Materials both rising sharply after reporting results that beat analysts' forecasts.

FILE - A sign for Wall Street is carved in the side of a building, Thursday, Nov. 5, 2020, in New York. Stocks are opening broadly higher on Wall Street Friday, Nov. 13, keeping the market on track for its second weekly gain in a row.

NEW YORK — Stocks were moderately higher in Friday morning trading, recovering some of the declines markets posted the day before as investors became increasingly worried aboutThe S&P 500 rose 0.8% as of 9:50 a.m. Eastern, with the Dow Jones Industrial Average and Nasdaq Composite posting similar gains. The market was lifted by the same stocks that have dominated this year’s gains: big technology companies such as Cisco Systems, Amazon and Microsoft.

“It feels a bit deflated today,” Stephen Innes of Axi wrote in a report. A vaccine “cannot get here quick enough as what should be a festive time of the year looks bound to be weeks of holiday gloom.”

 

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Explain to me why Wall Street gets to celebrate/rebound in the midst of a pandemic? People are struggling with depression,death and possible homelessness while trying to survive Covid but we are poppin' bottles to the Dow? GTFOH

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