Tech Leads Wall Street Rally as Oil Prices Ease
Wall Street bounced higher as easing oil prices and dropping Treasury yields helped markets move past the latest Federal Reserve rate hike. Major stock indexes closed sharply higher, led by a broad tech rally and solid labor data.
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Wall Street rebounded on Thursday as easing crude prices, declining Treasury yields, and solid labor data lifted the S&P 500 up 1.14% to 7,637.90 points. The broader market rally followed the Federal Reserve's first interest rate hike in more than three years. Technology shares led the charge, propelling the Nasdaq Composite up 1.66% to 26,410.50.
