Investing.com – Wall Street rallied on Tuesday as an increase in technology stocks helped lift emotions.
It jumped 221 points, or 0.9%, at 9:51 ET (13:51 GMT), while achieving 25 points or 0.9%, and the tech-heavy was up 82 points or 1.1 %.
The market was hit hard Friday and flat Monday when a yield curve inversion raised concerns about a recession.
"The fact that the markets were so upset on Friday, people looked at the yield curve and the stock market sold and thought things were getting worse, but that panic phase may have gone," said Scott Brown, chief economist at Raymond James. [1[ads1]9659005] " Growth concerns were probably a bit overdone, but it will probably be an ongoing concern, "said Brown.
Bed Bath & Beyond (NASDAQ 🙂 jumped 29.2% after the Wall Street Journal reported that three activist funds are trying to replacing the whole board with concerns that the company is not responding well to e-commerce, Tesla (NASDAQ 🙂 got 2.6% after a judge rejected a lawsuit over production requirements from the company's model 3.
Apple (NASDAQ 🙂 Step 1 , 2% as analysts denounced news about their transition to subscription-based products, while Netflix (NASDAQ 🙂 fell 0.1%.
Elsewhere, NIO (NYSE 🙂 fell 4.9% on news that investors are suing the Chinese electric car manufacturer for deception and p alleged breach of US securities laws.
In goods, 0.5% fell to $ 1,322.15 a troy ounce, while jumped 2.3% to an almost four-month high of $ 60.18 per barrel. The one who measures the greenback against a basket with six main currencies received 0.1% to 96.195.
– Reuters contributed to this report.
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