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U.S. Stocks Rise as Tech Lifts All Boats

Stock Markets Sep 26, 2022 10:35AM ET
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By Liz Moyer

Investing.com -- U.S. stocks rose as a rally in tech helped erase earlier losses.

Investors continue to worry that aggressive actions by the Federal Reserve will ignite a recession, however, and markets showed volatility in currencies and bonds.

At 10:30 ET (14:30 GMT), the Dow Jones Industrial Average was up 9 points, or 0.03%, while the S&P 500 was up 0.5% and the NASDAQ Composite rose 1.25%.

Last week, the Fed signaled that interest rates could remain high through next year, longer than expected. That news sent the three stock indexes tumbling, and the Dow is approaching a bear market, which is a 20% fall from a recent peak. So far this year, the Dow is down 18%.

Overseas developments are also jolting markets here.

In the U.K., the pound touched all-time lows around $1.038 over worries about the government’s tax-cutting scheme. The pound did start to drift higher later in the morning. In Italy, voters backed a new government led by far-right politician Giorgia Meloni’s coalition. In Russia, protests spread against the government’s order to draft up to 300,000 reservists for its war in Ukraine, and people fled for the borders to escape.

Big tech stocks rose. Apple Inc (NASDAQ:AAPL) was up 2%, and Amazon.com Inc (NASDAQ:AMZN) was up 2.5%.

Shares of casino companies jumped after China said it would resume its e-visa program for visitors to Macau and permit group tours there starting in November. Wynn Resorts Limited (NASDAQ:WYNN) shares jumped 13%, MGM Resorts International (NYSE:MGM) rose 4%, and Las Vegas Sands Corp (NYSE:LVS) jumped 12.7%.

Gold rose. Crude Oil WTI Futures was up 1.3%, to $79.78 a barrel, while Brent Oil Futures crude rose 1.1%, to $85.98 a barrel. Gold Futures fell 0.2%, to $1653 an ounce.

U.S. Stocks Rise as Tech Lifts All Boats
 

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Comments (6)
Stephen Fa
Stephen Fa Sep 26, 2022 11:32AM ET
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Boat is sinking now. S&P down 0.45%
First Last
First Last Sep 26, 2022 10:49AM ET
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"Overseas developments are also jolting markets here" --  To those the propagandists who are blaming everything on Biden:  this means not him
Stephen Fa
Stephen Fa Sep 26, 2022 10:49AM ET
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Russia, Russia, Russia! lol
First Last
First Last Sep 26, 2022 10:49AM ET
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Stephen Fa   If you actually read this article, it mentions UK & Italy, also.
Chris Sundo
Chris Sundo Sep 26, 2022 10:48AM ET
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Wishing for a Short squeeze after a Bear Trap, into 3rd Quarter Window Dressing Sep 30th, and on into  mid-term promo land ;)
Mitchel Pioneer
Mitchel Pioneer Sep 26, 2022 10:26AM ET
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Ah yes, 10AM sharp, the predictable breaker first, and the US Ponzi Scheme goes green.  BIGGEST INVESTMENT JOKE IN THE WORLD.
divya khetaan
divya khetaan Sep 26, 2022 10:18AM ET
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here goes the rally
Stephen Fa
Stephen Fa Sep 26, 2022 10:08AM ET
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US needs economic climate change.
 
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