Dow leaps 350 points thanks to strong retail numbers and tech shares rebounding
- 1 month ago
The Dow Jones Industrial Average rose 344 points, while the S&P 500 gained 1.2 percent. The Nasdaq Composite outperformed, rising 1.4 percent.
Shares of Facebook, Amazon, Apple, Netflix and Google-parent Alphabet all surged above the steep losses they suffered last week which landed them in bear territory.
The Invesco QQQ Trust, which tracks the Nasdaq 100 index, fell nearly 5 percent and saw more than $1 billion in outflows.
Meanwhile retailers also rose thanks to strong Black Friday online sales totaling a record $6.22 billion, according to Adobe Analytics. The sales record also marks a 23.6 percent jump in Black Friday online sales from last year. The SPDR S&P Retail ETF (XRT) rose 1.4 percent, led by gains in GameStop, Amazon and L Brands.
Source: Smart Trend Team/ CNBC