Stocks: Tech Companies Google and Facebook Up; Dis
The S&P 500 and Nasdaq Composite rose on Wednesday following three days Remote Automation of losses as tech shares advanced, while the blue-chip Dow index ticked lower, weighed by Disney's largest daily ｄ ｒｏｐ in almost seven years. Gains in major tech companies Google and Facebook led the advance on the Nasdaq. Apple added 0.7 percent to $115.40, up for just the second session in the last 12. The S&P 500 tech sector gained 1 percent, its best daily performance in three weeks. "There's been a sector rotation into technology because of the improvement in their earnings expectations," said Chad Morganlander, portfolio manager at Stifel, Nicolaus & Co in Florham Park,New Jersey. Earnings in the technology sector of the S&P 500 are expected to have grown 5.3 percent in the second quarter, up from a 2.1 percent increase expected back on July 1, according to the most recent Thomson Reuters I/ remote access B/E/S data. |