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US stocks rise ahead of tech earnings

By AFP

April 22, 2024 06:55 PM


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Wall Street stocks bounced early Monday as markets attempted to rebound from last week's losses amid worries about earnings and geopolitical troubles.

The Nasdaq on Friday sank more than two percent as traders feared a rout in Netflix shares after earnings would be repeated this week when Amazon, Microsoft, and other tech giants report results.

Investors are also edgy about the brittle situation in the Middle East as they adjust to expectations of less easing in US monetary policy than previously thought.

About 15 minutes into trading, the Dow Jones Industrial Average was up 0.1 percent at 38,010.60.

The broad-based S&P gained 0.3 percent to 4,983.48, while the tech-rich Nasdaq Composite Index advanced 0.6 percent to 15,378.53.

Among individual companies, Tesla fell 3.2 percent following another round of price cuts in the latest sign of intensifying competition among electric vehicles. The company will report results this week.

Nike slid 0.4 percent after disclosing to state officials in Oregon that it plans to cut 740 jobs from its headquarters.


AFP


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