Wall Street ends higher as tech rally squashes virus fears, but S&P down for week

- Technology stocks again rode to Wall Street’s rescue on Friday, lifting the main indexes more than 1%, but the Dow and the S&P 500 still posted their longest weekly losing streaks in a year as fears of a slowing economy sparked an almost month-long rout.

Investors started buying beaten-down shares after the Nasdaq confirmed a corrective phase earlier this month and the S&P 500 on an intra-day basis briefly broke that barrier this week. Both the Dow and S&P 500 notched their fourth straight weekly declines, the longest weekly losing streak since August 2019. The Nasdaq closed higher for the week after falling the previous three, and is now up 22% for the year. The S&P 500 is up a bit more than 2% for the year.

Investors are looking at the long term and believe technology remains the investment of choice, said Edward Moya, senior market analyst at OANDA in New York. “It’s dip buying,” Moya said. “When you look at the correction that we’ve seen in these tech giants, people are still going to want to hold U.S. equities. The reality is that 2021 is going to be a much higher stock market and you’re probably going to see tech still lead the way.”

Tax cuts in 2017 will cost us two trillion in debt, maybe more. Stock buy backs killed any help to middle America. Corps have been bailed out 4 times in recent years + still at trough. Rich got richer during Pandemic. Senate Republicans looking to bail out airlines not people.

According to our research this will continue to go on this coming week. Making profits either way.

They need to know how it feels to lose money...the American people certainly knows how this feels

Các nước đồng minh với Mỹ hãy cẩn thận, Mỹ sẽ sẵn sàng đi đêm với Trung Quốc để đổi lấy lợi ích cho họ.

Wall street backs Joe Biden. i hope they crash!

It is only a matter of time befor the US Stock Market crashes in a major crash worse than Depression of 1929!

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