Tech Giants Drive Stock Market Rally While Fed Rate Hike Fears Subside
TL;DR Summary
Big Tech powered the stock market higher after Wednesday's timing clash between Treasury Secretary Janet Yellen and Fed Chair Jerome Powell. Coinbase plummeted after the SEC recommended enforcement action, but Bitcoin surged to nine-month highs. Short seller Hindenburg Research alleged fintech provider Block committed fraud, triggering a violent decline. Ford Motor rose 1.8% after aligning accounting units with product segments, while Yum China Holdings surged out of a 10-week flat base. Homebuilder Meritage Homes rallied 4.0%, nearing the 117.32 buy point of a handle.
- Big Tech Powers Stock Market Rally As Bank Fears Recede; Coinbase, Square Gets Clobbered Investor's Business Daily
- Dow rises more than 200 points as investors bet Fed rate hikes will soon end: Live updates CNBC
- Stock Market Today: Equity futures mostly higher after major sell-off from rate hike MarketWatch
- Stocks rise to recover much of steep loss from day before The Associated Press
- Stock Market Today: Dow Stocks Rise Barron's
- View Full Coverage on Google News
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