Stocks - Wall Street Gains on Tech Stocks By - Investing.com

© Reuters.

Investing.com - Wall Street rallied on Tuesday as a rise in technology stocks helped lift sentiment.

The jumped 221 points, or 0.9%, by 9:51 AM ET (13:51 GMT), while the gained 25 points, or 0.9%, and the tech-heavy was up 82 points or 1.1%.

The market was hit hard Friday and flat Monday as a yield curve inversion raised worries about a recession.

"The fact that markets were beaten up so much on Friday, people were looking at the yield curve and the stock market selling off and thought things were getting weaker, but that panic phase may have passed," said Scott Brown, chief economist at Raymond James.

"The growth worries were probably a little overdone, but that is certainly going to be an ongoing concern," Brown said.

Bed Bath & Beyond (NASDAQ:) jumped 29.2% after The Wall Street Journal reported that three activist funds are trying to replace its entire board over concerns that the company is not responding well to e-commerce. Tesla (NASDAQ:) gained 2.6% after a judge dismissed a lawsuit over production claims of the company’s Model 3.

Apple (NASDAQ:) rose 1.2% as analysts digested news of its move towards subscription-based products, while Netflix (NASDAQ:) fell 0.1%.

Elsewhere, NIO (NYSE:) fell 4.9% on news that investors are suing the Chinese electric car manufacturer for deception and alleged violations of U.S. securities laws.

In commodities, fell 0.5% to $1,322.15 a troy ounce, while jumped 2.3% to an almost-four-month high of $60.18 a barrel. The , which measures the greenback against a basket of six major currencies, gained 0.1% to 96.195.

-- Reuters contributed to this report.

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https://www.investing.com/news/stock-market-news/stocks--wall-street-rebounds-after-housing-data-1818380

2019-03-26 14:29:46Z
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