US stock indices get boost from tech sector

Quick Summary:

All three major US stock indices closed higher on Wednesday with a boost from the technology sector offsetting investor disappointment at an early morning inflation report, which crushed hopes the Federal Reserve would cut interest rates by 50 basis points next week.

On the Nasdaq, 2,337 stocks rose and 1,882 fell as advancing issues outnumbered decliners by a 1.24-to-1 ratio.

Meanwhile, solar stocks, seen as benefiting from a Harris administration, rallied.First Solar added 15.2% while Sunrun rose 11.3% and SolarEdge Technologies advanced 8.5%.

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Category: EconomyBusiness

Markets: MalaysiaSaudi Arabia

Topics: TechStocks /Business/ FederalReserve FinancialMarkets InterestRates SolarStocks InflationReport Markets PresidentialDebate

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-12 @ 07:21:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 818 words

Reading Time: 5 minutes read

Sentences: 34 lines

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News ID: 22463974

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