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Gains in technology stocks, Amazon drive Wall Street higher

Amazon rose 1.9 per cent, while tech heavyweights such as Facebook, Apple and Alphabet gained between 1 per cent and 2.6 per cent


US stocks rose on Wednesday, with technology shares and Amazon driving gains ahead of minutes of the Federal Reserve's most recent policy meeting. The Fed left rates unchanged at the January meeting, but investors will look for its opinion on inflation and interest rates, especially after strong economic data raised concerns of an overheating economy and triggered the recent selloff. "Right now Fed fund futures are pricing in three rate hikes with just under a 50-50 short of a fourth," said Matt Miskin, market strategist at John Hancock Investments. "The ...

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First Published: Wed, February 21 2018. 23:00 IST