NEW YORK: Technology shares boosted Wall Street's main indexes on Wednesday as early signs of an economic rebound offset fears of another lockdown due to a jump in coronavirus cases across the country.
Safe-haven gold rose more than 1% as the number of confirmed US cases surpassed 3 million, affecting nearly one of every 100 Americans. California, Hawaii, Idaho, Missouri, Montana, Oklahoma and Texas broke their previous daily record highs for new infections.
Markets also appeared to be in a wait-and-watch mode before the beginning of the second-quarter earnings season, which kicks off next week with reports from the big Wall Street banks.
Quarterly earnings for S&P 500 companies are expected to plunge about 43% year-on-year, according to IBES Refinitiv data.
Technology sectors firmed 1.2%, the most among the 11 major S&P sectors.
At 10:52 a.m. ET, the Dow Jones Industrial Average was up 121.80 points, or 0.47%, at 26,011.98, the S&P 500 was up 18.26 points, or 0.58%, at 3,163.58. The Nasdaq Composite was up 114.52 points, or 1.11%, at 10,458.41.
Comments
Comments are closed for this article.