Tag: Closes

Nasdaq Closes Higher With Technology Stocks Back in Favor | Investing News

(Reuters) – The Nasdaq closed up 2% on Wednesday as investors switched back to technology stocks and away from economically sensitive sectors as they weighed COVID-19 vaccine progress against a virus surge and likely timing for a economic rebound.

After falling sharply for two days, the tech-heavy Nasdaq was boosted by “stay-at-home” stocks such as Microsoft and Netflix Inc, which closed up more than 2% and Amazon.com Inc and Apple Inc, which advanced more than 3%.

Monday’s encouraging late-stage coronavirus vaccine trial data had prompted a two-day rotation away from technology stocks into sectors that outperform coming out of a

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