Wall St rises as tech stocks bounce back

Wall St rises as tech stocks bounce back”

Gains for health care and technology stocks helped hem in losses for broader market indexes.

"With oil entering the so-called bearish territory, the market is looking at the negatives of lower oil prices and not necessarily the benefits of lower oil prices", said Peter Cardillo, chief market economist at First Standard Financial.

FedEx was up about 1 percent after the package delivery company reported a quarterly profit that beat analysts' estimates and forecast higher earnings for fiscal 2018.

At 9:43 a.m. ET (1143 GMT), the Dow Jones Industrial Average .DJI was up 75.35 points, or 0.35 percent, at 21,459.63, the S&P 500 .SPX was up 11.35 points, or 0.46 percent, at 2,444.50.

Oil has lost 20 percent in value this year as a global oversupply continues to weigh on prices despite efforts by producers to reduce output. Even a report showing that the amount of supplies in USA inventories shrank last week did little to alter the tide. Hong Kong's Hang Seng index dropped 0.5 percent to 25,717.22.

Asian markets were mostly lower Wednesday after overnight losses on Wall Street. "If we get below $40, I think you'll get people adjusting their expectations".

BUYOUT BOOST: PerkinElmer, which sells testing equipment and scientific instruments, jumped $1.59, or 2.5 percent, to $65.16 for one of the largest gains in the S&P 500 after it agreed to buy EUROIMMUN Medical Laboratory Diagnostics of Germany for $1.3 billion in cash.

Stocks are opening slightly higher on Wall Street, led by gains in health care and technology companies.

Natural gas sank 14 cents, or 4.5 percent, to $2.90 per 1,000 cubic feet. Its customers have been shifting toward higher-priced and more profitable products for the company, such as leather. The move, which will begin next year, will likely cause big shifts of money into mainland Chinese stocks by mutual funds and other investors that track the index.

In overseas markets, the Shanghai composite rose 0.5 percent after index provider MSCI said it will include 222 of what are called Chinese A-shares in its widely followed Emerging Markets index.

CHINA WATCH: Investors are closely watching the MSCI decision on China A-share inclusion to indexes, expected later in the day.

Red Hat jumped 10.7 percent to $99.61 after the Linux operating system distributor's second-quarter forecast came in above expectations, prompting a slew of price target lifts by brokerages.

US stocks were higher in late morning trading on Monday, with the S&P 500 and Dow Jones Industrial Average hitting yet another record high, as technology stocks rebounded after recent losses.The S&P technology sector is coming off its second straight weekly decline, triggered by fears of stretched valuations and investors moving money to other sectors. Apple fell 0.5 percent and Microsoft gave up 0.4 percent. The Nasdaq composite rose 34 points, or 0.6 percent, to 6,222. The euro fell to $1.1156 from $1.1194.

The Standard & Poor's 500 index rose 10 points, or 0.5 percent, to 2,444.

The dollar rose to 111.54 Japanese yen from 110.84 yen late Friday.

Like this



23 June 2017
Splunk Inc. (NASDAQ:SPLK)
VolitionRx Limited (:VNRX) shares have been labeled a top pick by Beta Research as it meets the A+ criteria outlined by the firm. The Business's offerings address diverse data sets that are referred to as big data and are specifically used for machine data.

23 June 2017
Court: Presidential results at constituency level final
At the time, electoral authorities had abruptly stopped tallying votes and announced then-incumbent president Mwai Kibaki as the victor .

23 June 2017
Turkey has no plans to reassess military base in Qatar - minister
That presumably would mean Qatar would have to close down Al-Jazeera's English-language affiliate. Stop granting citizenship to wanted nationals from Saudi Arabia, the UAE, Egypt and Bahrain.

23 June 2017
Five dead 'after being electrocuted at water park'
Sponsored Content - Download our Executive Briefing to learn how agency and industry experts are hoping to reduce insider threats. The park manager and his son were injured when they dived in to try to rescue the children, according to Doğan news agency.

23 June 2017
Player Unknown's Battlegrounds has sold four million copies in just three months
PlayerUnknown's Battlegrounds has become a smash hit on PC, even though the game is only available in early access . For example, players can expect climbing, vaulting, and different weather effects to be added in a future update.

23 June 2017
Qatar's neighbors issue steep list of demands to end crisis
The move has left Qatar, whose only land border is shared with Saudi Arabia, under a de facto blockade by its neighbors. Reuters was citing an official from one of the four countries. - Shut down Al-Jazeera and its affiliate stations.

23 June 2017
California winner of $447M Powerball can claim prize Monday
California lottery officials say the sole winning ticket for the $447.8 million Powerball jackpot was sold in Sun City. The lucky punter matched all six numbers on their Powerball ticket which was sold in southern California.

23 June 2017
British tennis player Dan Evans tests positive for cocaine
It's really important you know this was taken out-of-competition and the context was completely unrelated to tennis . The Lawn Tennis Association, the governing body of British tennis, said it was "very disappointed" by the news.

23 June 2017
India, Russia sign roadmap to boost bilateral military cooperation
Moreover, both countries' Defence Ministers gave a high praise to anti-terror and naval exercises, which were held previous year . Over 500 servicemen and up to 50 military vehicles participated in the exercise.

23 June 2017
Group protests senate health care bill, Toomey defends legislation
The GOP can afford to lose no more than three Republican votes, or else the bill would face certain defeat. Healthcare is a top priority for voters and many Republicans fear a legislative misstep could hurt them.