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Power Wall Street bargain hunters

Power Wall Street bargain hunters

The Dow Jones advanced 0.65% to 35,120.08 points, while the S&P 500 gained 0.81% to close at 4,441.67 points. The Nasdaq Composite Index rose 1.19% to 14,714.66 points, with more appetite for technology stocks that have fallen in value in recent sessions.

By the way, Nasdaq recorded its best session last month.

The tech giants had a positive day, with Microsoft standing out, jumping 2.56%. Apple shares rose 1.02%, Facebook 1.20%, Google’s parent company Alphabet rose 1.29%, while Amazon rose only 0.38%.

Tesla, which today revealed a design for a humanoid robot, rose 1.01%.

Chinese companies listed on US markets also made gains today, but recorded the longest streak of weekly losses in a decade.

“While investors were understandably concerned about the Fed’s potential plans to start ‘tapping’, in a context where COVID-19 contagion continues, we believe the Fed will likely not announce any plans to withdraw stimulus until cases in the US return. early summer levels,” defended Rod von Lipsey, managing director of UBS Private Wealth Management, in comments to Bloomberg.

Anyway, all eyes are now on the Federal Reserve’s symposium in Jackson Hole, which runs from August 26-28.

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