Facebook, Amazon Buoy Wall St. As Trade Concerns Cool
(Reuters) – Facebook, Amazon and industrial stocks helped Wall Street extend its recovery on Thursday as fears over a trade war between the United States and China eased.
Technology stocks, which have taken a beating in the past three weeks, were higher.
Facebook, Amazon, Alphabet, Netflix – collectively known as the “FANG” group – were up between 0.8 percent and 2.6 percent.
Shares of Boeing, Caterpillar – hit the most on Wednesday after China retaliated with $50 billion in tariffs on U.S. goods such as soybeans, autos, chemicals and some types of aircraft – also rose more than 1 percent.
At 9:41 a.m. ET, the Dow Jones Industrial Average was up 0.57 percent at 24,403.74. The S&P 500 rose 0.37 percent to 2,654.55 and the Nasdaq Composite gained 0.55 percent to 7,080.71.
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