S&P 500 Snaps Losing Streak on Cooler Inflation, Tech Rebound
Summarize this article with:
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000US Stocks:Stocks rebounded Thursday as a cooler-than-expected inflation report lifted hopes that the Federal Reserve would cut interest rates further. An optimistic outlook in the tech sector also boosted sentiment. The S&P 500 Index snapped a four-session losing streak and closed 0.8% higher. Consumer discretionary was the top-performing of 11 sectors in the market, while energy fell along with crude oil prices.
Micron Technology Inc. was the top-performing stock in the benchmark after providing an upbeat forecast, citing the ability to charge more for products given rising demand and supply shortages.