Shares of technology companies rose as a drop in inflation and interest rate expectations boosted risk appetite.
Mega-cap tech stocks that led the stock market for years until the last bear market were revived.
Amazon.com rose more than 3%, bringing it roughly 40% above early summer lows.
Foxconn Technology, the world’s largest iPhone maker, said demand for smartphones and other consumer electronics is slowing, prompting it to take a more cautious stance in the current quarter.
Japanese technology investment firm SoftBank Group said it would significantly reduce its stake in Chinese e-commerce company Alibaba Group Holding in a bid to shore up cash.
Elon Musk sold nearly $7 billion of Tesla stock in recent days, regulatory filings show, in what could amount to contingency planning given doubts over the fate of his $44 billion deal to buy Twitter.
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