Tech Giants, Yields Tick Up in Choppy Session: Markets Wrap
- US dollar strengthens while Russian ruble, Chinese yuan drop
- Strategists divided on if bull-market run will continue
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Tech stocks had their best day in two weeks, helping US equities edge higher in light trading as traders weighed the prospect of a soft landing for the economy. Treasuries fell.
The tech-heavy Nasdaq 100 rose 1.2% as AI-favorite Nvidia Corp. and other technology giants drove Monday’s advance. On Friday, the tech-heavy benchmark had notched its longest weekly losing streak this year, the gauge has slid 3.5% in August. Smaller stocks were under pressure with the Russell 2000 touching the lowest in a month as risk-appetite waned.