Business Watch

Equities Stage End-of-Week Recovery

Equities in the US firmed in early trading on Friday as information technology stocks buoyed the Nasdaq Composite and led the sectors on the Standard & Poor’s 500 and General Electric (GE) staged a recovery of a sharp selloff a day ago.

Markets have had a choppy week amid growing worries about economic recession, but were in the green on the final session of the week with tech up 1.2% amid gains for semiconductor stocks. That’s as chipmaker Nvidia (NVDA) jumped 6.8% after reporting late Thursday better-than-expected quarterly results.

Advanced Micro Devices (AMD) gained 4.4%, Micron Technology (MU) was up 2.7% and Maxim Integrated (MXIM) was up 2.3%. Industrials were up 1.1%, and financials gained 1% as all of the S&P’s sectors pushed higher.

The gains on the Dow Jones Industrial Average were widespread, with tech giant Apple (AAPL) and pharmacy operator Walgreens Boots Alliance (WBA) both leading with gains of about 2.5%.

GE gained 6.2% after Thursday’s selloff that was prompted by a report from a financial investigator and compared the industrial conglomerate to bankrupt energy company Enron. Chief Executive Lawrence Culp bought company shares, a regulatory filing showed.

Equities in the US firmed in early trading on Friday as information technology stocks buoyed the Nasdaq Composite and led the sectors on the Standard & Poor’s 500 and General Electric (GE) staged a recovery of a sharp selloff a day ago.

Markets have had a choppy week amid growing worries about economic recession, but were in the green on the final session of the week with tech up 1.2% amid gains for semiconductor stocks. That’s as chipmaker Nvidia (NVDA) jumped 6.8% after reporting late Thursday better-than-expected quarterly results.

Advanced Micro Devices (AMD) gained 4.4%, Micron Technology (MU) was up 2.7% and Maxim Integrated (MXIM) was up 2.3%. Industrials were up 1.1%, and financials gained 1% as all of the S&P’s sectors pushed higher.

The gains on the Dow Jones Industrial Average were widespread, with tech giant Apple (AAPL) and pharmacy operator Walgreens Boots Alliance (WBA) both leading with gains of about 2.5%.

GE gained 6.2% after Thursday’s selloff that was prompted by a report from a financial investigator and compared the industrial conglomerate to bankrupt energy company Enron. Chief Executive Lawrence Culp bought company shares, a regulatory filing showed.

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