Tue, 29 Sep 2020

U.S. stocks rise amid tech rebound

Xinhua
15 Sep 2020, 06:59 GMT+10

NEW YORK, Sept. 14 (Xinhua) -- U.S. stocks ended higher on Monday, fueled by a rebound in big tech names.

The Dow Jones Industrial Average increased 327.69 points, or 1.18 percent, to 27,993.33. The S&P 500 rose 42.57 points, or 1.27 percent, to 3,383.54. The Nasdaq Composite Index rallied 203.11 points, or 1.87 percent, to 11,056.65.

Tesla shares soared 12.58 percent, contributing to the market. The stock was still down more than 15 percent for the month as of Monday's close.

Apple shares jumped 3 percent. Shares of the iPhone maker logged 10.6 percent of month-to-date loss.

All the 11 primary S&P 500 sectors closed higher, with real estate and technology up 2.16 percent and 2.07 percent, respectively, leading the gains.

U.S.-listed Chinese companies traded higher, with all the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

The moves followed a turbulent week on Wall Street that saw the Nasdaq book its worst week since March as investors rotated out of the tech sector.

For the week ending Friday, the Dow fell 1.7 percent, the S&P 500 dropped 2.5 percent and the Nasdaq shed 4.1 percent.

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