Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
The Closing Bell: The Three Major Indexes Turns Positive, Erases 507-Point Drop As Tech Shares Rise
FYI: The Dow Jones Industrial Average wobbled between gains and losses, but advances among technology companies helped the blue-chip index recoup all of earlier 500-point loss that would have pulled it into correction territory.
Shares of Apple Inc., Microsoft Corp. and International Business Machines Corp. notched modest gains, helping to steady the index, which tumbled 4.5% last week on trade-related tensions and worries about higher interest rates.
Major indexes were under pressure most of the day as investors worried that tensions would be ramped up by U.S. Trade Representative Robert Lighthizer’s pledge on Sunday to enact further tariffs and sanctions against China if the two countries can’t reach a deal by the end of the 90-day truce.
Eight of the eleven S&P 500 were up, only Financials, Energy, and Real Estate finished in the red. Regards, Ted
