Wall Street Jumps as Tech Roars Back, Yields Retreat [The New York Times]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: The New York Times
By Reuters April 26, 2018 (Reuters) - Facebook's 9.4 percent jump after blockbuster results and gains in chipmakers powered technology stocks on Thursday, with easing U.S. bond yields helping the sentiment on Wall Street. The S&P technology index rose 2.2 percent, the biggest gainer among the 11 major S&P sectors, and was on track to break its six-day losing streak. Only six stocks in the 69-member index were in the red. The gains come after U.S. equities were pressured by a rise in the 10-year Treasury yield to 3 percent on Tuesday, a level it last hit in 2014, stoking fears about rising inflation and corporate costs. The rising yields are having an impact and there are some concerns that we're in an environment where we're seeing a peak in terms of earnings growth, said Emily Roland, head of capital markets research at John Hancock Investments in Boston. But some of these factors are overshadowing the fact we have sturdy fundamental backdrop, both earnings and
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