News Highlights: CORRECTED – US STOCK-Nasdaq, S&P 500 gains on tech stocks, hopes for more stimulus
(Correct to say that technology was the leading industry to win in Section 2, but deleted that it was the only industry to make a profit)
* Nvidia leads small rally in technology stocks
* Cannabis shares reverse premarket profits
* Weekly unemployment claims expire
By Herbert Lash
NEW YORK, Feb. 11 (Reuters) – The Nasdaq and S&P 500 made inordinate gains Thursday with investors betting on more tax incentives, but US President Joe Biden said China was ready to “eat our lunch,” a warning that tempered enthusiasm for a nearby market. record heights.
Nvidia Corp rose 3.2% and Intel Corp 3.1%, making technology the leading industry to profit from the S&P 500 and Nasdaq. On the NASDAQ and the New York Stock Exchange, declining stocks were in the minority.
Biden told a group of US senators in a meeting to discuss the need to upgrade the US infrastructure that the United States should up their game in the face of China’s challenge.
The warning about China and Democrats’ plans to raise the minimum wage to $ 15 in a $ 1.9 trillion stimulus package showed that investor headwinds could increase, said Ed Moya, senior market analyst at OANDA in New York. .
“Markets are starting to get a little nervous about the relationships between the …
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