Tag: Stocks

Financials, tech stocks drive Australian market higher

(Reuters) – Australian shares settled higher on Tuesday for the seventh straight session, as financials jumped on some economic optimism and dividend hopes, and technology stocks tracked Wall Street higher.

FILE PHOTO: Pedestrians are reflected in a window displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia, February 13, 2018. REUTERS/David Gray

The S&P/ASX 200 index .AXJO rose 1% to 6,195.70, adding about 7% during the seven sessions of gains through Tuesday.

Financials .AXFJ closed 1.7% higher, after having hit their highest level since Aug. 12 earlier in the session, with the “Big Four” banks adding between 1.7% and 3.3%.

“There are some signs that there is a bit of optimism for the economy moving forward, and that’s helping banks have a pretty good run,” said James Tao, a market analyst at CommSec.

Last week, the Australian government pledged billions in tax cuts and measures to boost

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Tech Stocks Power Markets Higher

U.S. stocks jumped sharply Monday, propelled by technology stocks that led major indexes to their highest closing values in nearly six weeks.

All three major U.S. indexes climbed for the fourth consecutive session. The S&P 500 rose 57.09 points, or 1.6%, to 3534.22—its second-highest close in history. The Dow Jones Industrial Average rallied 250.62 points, or 0.9%, to 28837.52.

The Nasdaq Composite surged 296.32 points, or 2.6%, to 11876.26, its third-highest close. All three indexes are closing in on their early September highs after a recent stretch of volatility.

Megacap companies including

Apple

and

Amazon.com

were among the strongest performers, jumping 6.4% and 4.8%, respectively. Apple is set on Tuesday to unveil a 5G-enabled iPhone, which some investors hope could fuel the kind of sizable growth that stemmed from previous technological advancements for the iPhone.

Amazon

is kicking off its Prime Day of shopping deals Tuesday.

The robust gains build

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Asian stocks set to rise as tech, stimulus hopes fuel global rally

By Suzanne Barlyn



a person holding a sign: People wearing protective face masks, following an outbreak of the coronavirus, are reflected on a screen showing Nikkei index, outside a brokerage in Tokyo


© Reuters/ATHIT PERAWONGMETHA
People wearing protective face masks, following an outbreak of the coronavirus, are reflected on a screen showing Nikkei index, outside a brokerage in Tokyo

NEW YORK (Reuters) – Asian stocks were set to rise on Tuesday as a renewed tech rally and fresh optimism that Washington would deliver a coronavirus relief package helped lift global equity markets.

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Shares in Apple Inc surged 6.4% on Wall Street on Monday ahead of an expected debut of its latest iPhone on Tuesday, helping boost technology stocks, while Amazon rallied 4.8% ahead of its Prime Day shopping event this week.

CommSec Senior Economist Ryan Felsman said a COVID-19 resurgence in Europe and the United States is partly fueling the tech rally.

“Once again, there is a desire to hold the stay-at-home types of technology stocks…which will still generate profits and will be greatly oriented to a

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US STOCKS-Tech stocks extend Wall St rally on stimulus hopes

(For a live blog on the U.S. stock market, click or type LIVE/ in a news window)

* Apple jumps ahead of Tuesday event

* Twitter rises after Deutsche Bank upgrades to “buy”

* White House calls for limited COVID-19 relief bill

* Indexes up: Dow 1.07%, S&P 1.75%, Nasdaq 2.58% (Updates to early afternoon)

Oct 12 (Reuters) – Wall Street’s main indexes rose for a fourth straight session on Monday on optimism that a coronavirus relief package would eventually come around, while investors geared up for the third-quarter corporate earnings season.

Technology stocks provided the biggest boost to all three main indexes as Apple Inc jumped 5.3% ahead of a special event on Tuesday, which most analysts believe will be used to unveil the new iPhone with 5G capabilities.

Amazon.com Inc climbed 5.1% ahead of its annual Prime Day shopping event on Oct. 13

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GLOBAL MARKETS-Asian stocks set to rise as tech, stimulus hopes fuel global rally

By Suzanne Barlyn

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NEW YORK, Oct 12 (Reuters) – Asian stocks were set to rise on Tuesday as a renewed tech rally and fresh optimism that Washington would deliver a coronavirus relief package helped lift global equity markets.

Shares in Apple Inc surged 6.4% on Wall Street on Monday ahead of an expected debut of its latest iPhone on Tuesday, helping boost technology stocks, while Amazon rallied 4.8% ahead of its Prime Day shopping event this week.

CommSec Senior Economist Ryan Felsman said a COVID-19 resurgence in Europe and the United States is partly fueling the tech rally.

“Once again, there is a desire to hold the stay-at-home types of technology stocks…which will still generate profits and will be greatly oriented to a more challenging economic environment,” Felsman said.

On Wall Street, the Nasdaq Composite on Monday staged its biggest one-day rally in a month, jumping 2.56%. The

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Strong gains for technology stocks send Wall Street higher

Stocks marched higher again on Monday, as Wall Street extended its gains from last week’s rally, the market’s best in three months.

The S&P 500 rose 1.6%, following up on strengthening in stock markets around the world. Big Tech stocks, including Apple and Microsoft, powered much of the gains. Their businesses have proven to be practically impervious to the pandemic, unlike companies that would benefit from a strengthening economy.

The market’s latest upward push came as Wall Street appeared to largely shrug off the latest signs that Democrats and Republicans are no closer to reaching a deal on more aid for the economy, which remains hobbled by the pandemic. Over the weekend, Democratic House Speaker Nancy Pelosi criticized the latest offer from the Trump administration on a stimulus package as “one step forward, two steps back,” while the president’s fellow Republicans called it too expensive.

Investors may be betting that

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Nasdaq soars as tech stocks lead a market rally

Wall Street rallied Monday with tech stocks leading the way. All three major stock indexes finished the day higher.



a person riding a bicycle on a city street


© Michael Nagle/Bloomberg/Getty Images


The Nasdaq Composite was the strongest performer, rallying 2.6%.

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The Dow closed up 0.9%, or 251 points, and the S&P 500 ended 1.6% higher.

All three benchmarks inched closer to record territory once again. The Nasdaq and S&P 500 stand to beat their record closing levels from early September, while the Dow’s last record finish was in pre-pandemic times.

Apple was among the top performers, with shares closing more than 6% higher. The company is slated to announce its new iPhone on Tuesday after weeks of pandemic-related delays.

Meanwhile, shares of Nasdaq-listed software company Twilio rallied nearly 8% after the company announced it plans to buy data start-up Segment for $3.2 billion.

Software stocks look to be getting out of the rut that dominated tech

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Stocks Jump as Nasdaq Notches Best Day Since April: Markets Wrap

(Bloomberg) —



a man standing next to a building: Company trading price upward movements are displayed on a glass panel as visitor arrive in the lobby of the Euronext NV Paris stock exchange in the La Defense business district of Paris, France, on Thursday, July 16, 2020. The French government is due to unveil its longer-term stimulus plan for the euro area's second-biggest economy at the end of August.


© Bloomberg
Company trading price upward movements are displayed on a glass panel as visitor arrive in the lobby of the Euronext NV Paris stock exchange in the La Defense business district of Paris, France, on Thursday, July 16, 2020. The French government is due to unveil its longer-term stimulus plan for the euro area’s second-biggest economy at the end of August.

U.S. stocks climbed to an almost six-week high amid a rally in some of the world’s largest technology companies.

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The S&P 500 extended gains into a fourth day and the Nasdaq 100 posted its biggest advance since April after surging as much as 4.1%. Amazon.com Inc. soared ahead of its Prime Day while Apple Inc. jumped as the tech giant — whose price target was raised by RBC Capital Markets — is set to embrace 5G as one of its most significant additions to

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Stocks Hit Session Highs as Big Tech Leads Way: Markets Wrap

(Bloomberg) —

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U.S. stocks climbed to the highest in almost six weeks amid a rally in giant technology companies as traders awaited earnings from banks and news on a fresh round of economic stimulus.

The S&P 500 extended gains to session highs as Amazon.com Inc. surged before its Prime Day event while Apple Inc. jumped after its price target was raised by RBC Capital Markets. Twitter Inc. rallied on an upgrade at Deutsche Bank, which also raised its price estimates for other companies that derive their revenue from digital advertising such as Facebook Inc. and Alphabet Inc. Lenders including JPMorgan Chase & Co. and Wells Fargo & Co. report their results this week. Energy shares fell as oil sank below $40 a barrel. The Treasury market is closed for a U.S. holiday.

Read: Option Market Is Long Way From Calmed Down After August Infernos

Prospects for another round

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2 Tech Stocks I’m Still Buying Even After They’ve Surged 200%

Tech companies Shopify (TSX:SHOP)(NYSE:SHOP) and Lightspeed (TSX:LSPD)(NYSE:LSPD) have both been on absolute tears over the past six months. Since the beginning of April, Shopify’s share price has grown more than 200%, while Lightspeed is up more than 225%.



a woman sitting at a table using a laptop: stock data


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stock data

To be fair, the Canadian market in general has been on an incredible run since April. The S&P/TSX Composite Index has grown 27% over the last six months. That’s pretty impressive considering that this index has only delivered 17% growth over the past five years.

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So, with the market up almost 30% in half a year, it’s not surprising to see some companies trading at all-time highs today. 

Shopify and Lightspeed might each be up 200% in half a year, but I’m not even close to taking profits on either of the companies. 

I’ve reviewed why I believe there is still plenty

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