US STOCKS-Wall Street rallies on strong economic data; tech in focus ...Middle East

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US STOCKS-Wall Street rallies on strong economic data; tech in focus
source : Devdiscourse ( Middle East ) () 76
U.S. stocks rallied on Friday, driving the S&P 500 to a near-record closing high, after factory data and new home sales underscored a booming economy while big tech stocks rose in anticipation of strong earnings reports next week. The bounceback follows a sell-off on Thursday when reports that U.S. President Joe Biden plans to almost double the capital gains tax spooked investors. Analysts dismissed the slide as a knee-jerk reaction and pointed to the strong outlook.

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