Revenge for the tech sector on Wall Street
The technology sector rebounded in Tuesday’s trading on the New York Stock Exchange after Monday’s decline. At the close, Nasdaq’s composite index was up 1.7 percent, with Intel, for example, the clear winner with a rise of 2.3 percent.
During the day, among other things, new statistics came out that showed that consumer confidence in the US economy rose more than expected in June. In addition, in other separate statistics, a clear lift was noticed regarding housing and house prices. The numbers were interpreted as an increasingly positive mood in the US economy and sent consumer-related stocks such as cruise company Carnival Corp soaring with a rise of 8.9 percent.
The broad S&P 500 index thus lifted 1.2 percent, while the Dow Jones industrial index broke a six-day streak of negative closing prices when the index rose 0.6 percent.
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