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Tech stocks lift Wall St even as Covid impact on economy dampens sentiment

The information technology index jumped another 1.2% after outperforming for most of the week as investors ditched value-linked stocks in the face of deteriorating economic data

Topics
Tech stocks | Wall Street | US economy

Devik Jain | Reuters 

Wall Street's main indexes rose on Friday, led by technology-related stocks, but were still set for their longest weekly losing streak in a year as fears about the coronavirus' impact on the economy weighed on investor sentiment. Shares of tech mega-caps including Facebook Inc, Alphabet Inc, Amazon.com Inc, Apple Inc and Netflix Inc, which are perceived as relatively safe assets at a time of economic uncertainty, climbed between 0.4% and 1.9%. The information technology index jumped another 1.2% after outperforming for most of the week as investors ditched value-linked ...

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First Published: Fri, September 25 2020. 22:40 IST
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