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Tech Leads Broad Rally on Wall Street

Dow ends day up 237
By Newser Editors and Wire Services
Posted Sep 4, 2019 3:11 PM CDT
Trader Michael Milano works on the floor of the New York Stock Exchange, Wednesday, Sept. 4, 2019.   (AP Photo/Richard Drew)

(Newser) – Technology companies led a broad rally in US stocks, erasing much of the market's losses from a day earlier. Traders pivoted to riskier holdings Wednesday as encouraging developments overseas helped alleviate anxiety over the global economy, the AP reports. Lawmakers in Britain were seeking a less chaotic exit from the European Union and political tensions in Hong Kong eased. Apple rose 1.7% and Intel gained 4.1%. Banks also rose. Bank of America climbed 1.6%. The S&P 500 rose 31 points, or 1.1%, to 2,937. The Dow Jones Industrial Average climbed 237 points, or 0.9%, to 26,355. The Nasdaq rose 102, or 1.3%, to 7,976. The yield on the 10-year Treasury edged up to 1.47%. (Read more stock market stories.)

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