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U.S. stocks rise in ‘buy the dip’ session after three days of losses

Wall Street bounced back from a  three-day losing streak on Thursday powered by Big Tech companies and banks. The S&P 500 gained 1.2% after its loss from a day earlier, which was the biggest one-day drop since February. 

Technology stocks led the gain — Apple, Microsoft, Facebook and Google’s parent company all rose. Financial companies also did well. JPMorgan Chase, Charles Schwab and Capital One Financial each rose more than 2%. The energy sector was the only loser in the S&P 500 as oil prices fell sharply.

The S&P 500 gained 49.46 points to 4,112.50. The Dow Jones Industrial Average rose 433.79 points, or 1.3%, to 34,021.45. The Nasdaq, which is heavily weighted with technology stocks, climbed 93.31 points, or 0.7%, to 13,124.99. Smaller company stocks also recovered some of their losses from earlier in the week. The Russell 2000 index picked up 35.81 points, or 1.7%, to 2,170.95.

In other markets, the price for Bitcoin plunged 10% after Tesla CEO Elon Musk reversed his earlier position on the digital currency and said the electric car maker would no longer accept it as payment.

Dow futures rise after major averages snap 3-day losing streak

Via www.cnbc.com
 

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