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The Closing Bell: Wall Street Recovers As Technology Stocks Bounce Back
FYI: U.S. stocks recouped some losses on Wednesday after a brutal two-day selloff as strong earnings from Foot Locker and gains in technology stocks lifted investor sentiment ahead of the Thanksgiving holiday.
All major equity benchmarks were in the green, with the small-capitalization Russell 2000 Index rising around 2 percent to pace the gains, and the Nasdaq 100 Index wiping out much of its decline from the previous session. Energy was the strongest group in the S&P 500 Index as WTI crude rebounded from a one-year low to leap back above $54 a barrel. Apple Inc., which had lost 7.5 percent combined Monday and Tuesday, advanced. Volume was 20 percent lighter than normal for this time of day in pre-Thanksgiving trading.
