Tech stocks power Wall Street's recovery from trade-led selloff [Reuters]
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Source: Reuters
Tech stocks power Wall Street's recovery from trade-led selloff - Reuters 3 Min Read (Reuters) - U.S. stock indexes rebounded on Tuesday from one of their worst selloffs in 2019, as investors saw value in technology stocks that took a hit on Monday from heightened trade tensions between the United States and China. Investors took relief from reconciliatory comments by both sides. While China said it will the keep talks going, U.S. President Donald Trump said he would talk with his Chinese counterpart at a G20 Summit in late June. Technology shares, which posted their biggest daily percentage loss in more than four months, rose 1.9%, lifted by gains in Microsoft Corp, Apple Inc and chipmakers. “We’re seeing trade optimism from semi-market friendly tweets from Trump. If we’re still talking then it means that a deal could be done soon,” said Jerry Lucas, senior trading strategist at UBS Global Wealth Management. “We’re in a highly uncertain period right now, and the market is going to os
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