Stock market today: Wall Street climbs as Big Tech recovers following worst week in months

NEW YORK — U.S. stocks closed broadly higher, clawing back some of the losses from their worst week since April. The S&P 500 rose 1.1% Monday, breaking a three-day losing streak. It was the first gain for the index since setting an all-time high early last week. The Dow Jones Industrial Average added 0.3%, and the Nasdaq composite gained 1.6%. Big Tech stocks regained some of their sharp drops from last week.

Nvidia rose 4.8%, and other Big Tech stocks likewise regained some of their sharp drops from the week before to support the market. They had sputtered amid criticism they’d grown too expensive after rocketing so high and being the main reasons for Wall Street's run to records. Two of them, Alphabet and Tesla, will report on Tuesday how much profit they earned during the spring in a big test. They each rose at least 2.7%.

But Biden’s stepping aside over the weekend wasn’t that big a surprise for the market. “It was a matter of when, not if,” according to Brian Jacobsen, chief economist at Annex Wealth Management. Other corners of the market that could have swung sharply on uncertainty about the election were also mostly quiet. The U.S. dollar’s value was relatively steady against its biggest rivals.

Verizon Communications tumbled 6.8% after reporting profit for the latest quarter that matched analysts’ expectations but revenue that fell just short.

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Stock market today: A washout on Wall Street sends stocks, big to small, lowerNEW YORK (AP) — A widespread washout for U.S. stocks dragged Wall Street lower on Thursday. The S&P 500 dropped 0.8% to pull further from its all-time high set on Tuesday. The Dow Jones Industrial Average tumbled 533 points, or 1.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street holds steadier a day after big drop in tech stocksNEW YORK (AP) — Wall Street is holding steadier following the worst day for big technology stocks since 2022. The S&P 500 was up 0.2% in early trading Thursday, and the Nasdaq composite was up 0.6%.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Big tech stocks dive again to halt Wall Street's record-setting rallyNEW YORK (AP) — Wall Street’s record-breaking rally ran into a wall, as worries about potentially worsening trade tensions with China hit stocks of chip companies.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Most of Wall Street climbs on encouraging inflation report, but Big Tech slumpsNEW YORK (AP) — Most U.S. stocks rose after the latest update on inflation bolstered Wall Street’s belief that relief on interest rates may come as soon as September.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street finishes worst week since April with more lossesNEW YORK (AP) — U.S. stocks slumped Friday in another washout, as businesses around the world scrambled to contain the effects of a disruptive technology outage . The S&P 500 fell 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street slips as S&P 500 heads for its worst week since AprilNEW YORK (AP) — U.S. stocks are slipping on Friday, as businesses around the world scramble to contain the effects of a disruptive technology outage . The S&P 500 was 0.
Source: SooToday - 🏆 8. / 85 Read more »