Tue, 29 Sep 2020

U.S. stocks rise as tech shares rebound

13 Aug 2020, 07:44 GMT+10

NEW YORK, Aug. 12 (Xinhua) -- U.S. stocks ended higher on Wednesday as major tech shares recouped some of their losses from the prior session.

The Dow Jones Industrial Average increased 289.93 points, or 1.05 percent, to 27,976.84. The S&P 500 rose 46.66 points, or 1.40 percent, to 3,380.35. The Nasdaq Composite Index jumped 229.42 points, or 2.13 percent, to 11,012.24.

Shares of Apple and Microsoft rallied 3.32 percent and 2.86 percent, respectively, leading the gainers in the Dow.

Shares of other U.S. tech giants such as Facebook, Amazon, Netflix and Google-parent Alphabet also finished higher.

All the 11 primary S&P 500 sectors advanced, with technology up 1.78 percent, the best-performing group.

Meanwhile, U.S.-listed Chinese companies traded roughly 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.

On the data front, U.S. consumer price index increased 0.6 percent in July, matching the rise in June, with gasoline accounting for a quarter of the gain, the Labor Department reported Wednesday.

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