Energy stocks pull Wall Street higher, tech drags [Reuters]
ACACIA COMMUNICATIONS (ACIA)
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Source: Reuters
Energy stocks pull Wall Street higher, tech drags | Reuters 3 Min Read (Reuters) - The S&P 500 posted slight gains on Thursday as declines in technology companies and packaged food makers, dragged down by J.M. Smucker’s quarterly report, were offset by rising energy shares. Brent crude gained more than 1 percent on concerns about a plunge in exports from Venezuela, helping the S&P energy index rise more than 1.1 percent. Optical stocks and some chipmakers also gained after U.S. Commerce Secretary Wilbur Ross said Washington had reached a deal with China’s No. 2 telecommunications equipment maker ZTE that would allow it to do business again with U.S. suppliers. Optical component makers Acacia Communications, Oclaro Inc and Lumentum Holdings jumped on the news. Qualcomm and NXP Semiconductors also rose 2.6 percent and 6.2 percent respectively. A $44 billion acquisition of NXP by Qualcomm is still under review by China’s market regulator, although there have been some signs of progress a
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