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U.S. stocks surge as tech shares rally

Xinhua News,NEW YORK
2020-02-05 06:13

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NEW YORK, Feb. 4 (Xinhua) -- U.S. stocks finished Tuesday's session significantly higher, adding to the previous session's rebound, fueled by solid gains in tech shares.

The Dow Jones Industrial Average jumped 407.82 points, or 1.44 percent, to 28,807.63. The S&P 500 went up 48.67 points, or 1.5 percent, to 3,297.59. The Nasdaq Composite Index soared 194.57 points, or 2.1 percent, to 9,467.97.

Shares of major U.S. tech giants, such as Apple, Amazon, Facebook and Netflix, posted handsome gains.

Tesla shares surged more than 13 percent. The stock had its best day in six years during the previous session after Argus Research raised its price target to 808 U.S. dollars apiece.

Shares of Google-parent Alphabet, however, struggled after the company reported quarterly earnings that beat estimates while revenues missed.

Ten of the 11 primary S&P 500 sectors closed higher, with technology up 2.6 percent, outpacing the rest. Utilities fell 1.03 percent, the only declining group.

U.S. equities experienced a massive rout Friday with the Dow plunging 603 points, or 2.1 percent.
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