(Reuters) - The S&P 500 and Nasdaq touched all-time highs on Thursday as hopes of a swift COVID-19 vaccine-driven recovery and economic stimulus eased immediate worries about rising coronavirus cases and dismal economic data.
The move could hit companies such as Alibaba, tech firm Pinduoduo Inc and oil giant PetroChina Co Ltd
(Reuters) - The S&P 500 and the Nasdaq hit record highs on Tuesday as hopes that a COVID-19 vaccine will be available soon and better-than-expected factory data from China bolstered bets of a speedy economic recovery.
The three main US stock indexes have gained more than 10 per cent this month
The Dow Jones Industrial Average rose 69.34 points, or 0.24%, at the open to 29,332.82
The broad sell-off was a reversal of Monday's rally, in which the blue-chip Dow reached its first record closing high since before the pandemic
The Dow Jones Industrial Average .DJI rose 192.55 points, or 0.65%, at the open to 29,672.36
The tech-skewed Nasdaq advanced 1.5%, while technology mega-caps including Netflix Inc, Amazon.com Inc and Facebook Inc, the so-called stay-at-home winners, also gained between 1% and 2%.
Airbnb did not give a timeline for when it may complete its IPO
The Dow Jones Industrial Average fell 34.20 points, or 0.12%, at the open to 27,651.18.
The Dow ended lower on the day, moving within tight ranges
The S&P 500 opened higher by 2.94 points, or 0.09%, at 3,438.50, while the Nasdaq Composite gained 42.28 points, or 0.37%, to 11,526.98 at the opening bell
The Dow Jones Industrial Average fell 72.57 points, or 0.25 per cent, at the open
The S&P 500 posted 29 new 52-week highs and no new lows; the Nasdaq Composite recorded 112 new highs and 16 new lows
Should uncertainty persist, technology and momentum stocks that have led this year's rally may be particularly vulnerable to a selloff, some investors said
The four companies are collectively known among investors as the "FANG" group, for the first letters of Facebook, Amazon, Netflix and Alphabet's Google
11 major S&P 500 sectors were split down the middle in early trading with five falling and energy stocks and financials, which bounced strongly in the previous session, giving back most of their gains
Data from IHS Markit showed gains at factories were offset by a retreat at services industries in September
Microsoft Corp, Apple Inc, Alphabet Inc and Facebook Inc, which together fuelled a Wall Street rally since a coronavirus-driven crash in March, rose between 0.3% and 0.9% in early deals
Have a minimum of 15 to 20% (one or two) global funds in your portfolio for diversification, says Oswal