USA stocks open mixed as tech concerns weigh on Wall Street

Wall Street ends week higher but posts monthly loss

The S&P 500 rose 35 points, or 1.4 percent, to 2,640 while the Nasdaq finished up 114 points, or 1.6 percent, at 7,063. The S&P 500 gained 11.72 points, or 0.449904 percent, to 2,616.72.

Shares of Facebook, Apple, Alphabet and Microsoft were up between 1 percent and 4 percent, driving a 1.7 percent gain in the S&P technology index.

Amazon bounced back to end the day up 1.1 percent despite further criticism by President Donald Trump that the company does not pay enough taxes and a 4.6 percent loss during trading hours.

The Dow is down 2.5 percent for the year, while the S&P 500 is off 1.2 percent. On the Nasdaq, 2,152 issues rose and 716 fell.

us stocks ended the week with gains but posted losses for the month.

GameStop (GME.N) shares fell 10.8 percent after the company provided disappointing full-year sales forecast.

The year started strong, but early gains evaporated as the markets entered a correction over interest rate jitters, fears of an escalating import tariff dispute between the United States and China, and a selloff in the tech sector.


"Volatility has ramped up, inflationary pressures are more prevalent, interest rates are on the cusp of change, so that presents a higher level of uncertainty and higher investor angst", Sandven said.

Also gaining were tech giants Facebook, up 4.4 per cent and Tesla, up 3.2 per cent. Facebook has been under pressure over a consumer data scandal and Tesla following a fatal auto accident California.

Technology stocks, which were big decliners earlier in the week, powered much of the market's climb Thursday.

Even with the roller-coaster ride that technology stocks have been on lately, the sector is up 3.2 percent this year, while most other sectors are in the red.

US stocks rose on Thursday as technology shares recovered some lost ground in a roller coaster week for Wall Street.

Shares in several companies that reported improved quarterly earnings or outlooks got a boost. The watchmaker's stock jumped $5.20, or 15.7 percent, to $38.40.

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