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Wall Street's main indexes were jolted earlier this week after
the Fed unexpectedly signaled it could begin tapering its
massive stimulus sooner than expected, setting the benchmark S&P
500 on course to snap a three-week winning streak.
However, investors returned to heavyweight technology stocks in
particular on Thursday, focusing on the Fed's projection of the
economy growing a faster-than-expected 7% this year.
Shares of Apple Inc, Facebook Inc, Nvidia Corp and Google-parent
Alphabet Inc rose as much as 1.2% in premarket trading.
Tech-heavy Nasdaq 100 futures were up 0.2% by 06:36 a.m. ET.
Dow e-minis and S&P 500 e-minis, on the other hand, were down
0.11%. The blue-chip Dow is on course for its second straight
week of losses, with mining, financial and industrial stocks
among the biggest decliners.
Shares of banks including JPMorgan Chase & Co, Goldman Sachs
Group Inc and Citigroup Inc, which tend to perform better when
interest rates are high, fell between 0.2% and 0.5%, tracking a
dip in bond yields. [US/]
U.S. e-commerce group eBay rose 1% as Norway's Adevinta said the
two companies had secured final regulatory approval for a tie-up
of their global classified ads businesses.
Transportation finance and logistics company CAI International
Inc surged 45% after it agreed to a $1.1 billion takeover by
Mitsubishi HC Capital Inc.
(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Maju
Samuel)
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