Techs Lead U.S. Equity Rebound After Jobs Report: Markets Wrap
- Cryptocurrencies pare gains on tax compliance crackdown
- Oil prices decline as Iran is optimistic on sanctions relief
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Technology companies led a rebound in U.S. equities on Thursday after a report showing applications for state unemployment insurance fell last week to a fresh pandemic low rekindled optimism in the economic recovery.
The Nasdaq 100 Index jumped to a two-week high, with gains in megacaps including Apple Inc., Microsoft Corp. and Tesla Inc. powering the advance. Tech stocks rose the most in the S&P 500 as all of the major industry groups moved higher. Ford Motor Co. rose for the first time in three sessions on plans to create a joint venture to manufacture electric-vehicle batteries in the U.S.