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Tech Stocks Up

Surge in Tech Stocks Propelled by Apple’s Optimistic Forecast

Posted on May 3, 2024
Writer: James Miller

Tech stocks surged late after Apple Inc.’s robust outlook, with the company’s dividend increase and stock buyback plans fueling investor optimism.

Following Apple’s positive results, a $250 billion Nasdaq 100 ETF rallied post-market, driven by expectations of sales growth and substantial buybacks. Additionally, anticipation builds around Friday’s jobs report amid a backdrop of climbing stocks, falling bond yields, and a weakening dollar.

Analysts project a modest increase in nonfarm payrolls, reflecting ongoing economic recovery. Despite the Federal Reserve’s decision to maintain interest rates, markets remain cautious, closely monitoring economic data for signs of inflationary pressure. 

The options market anticipates significant stock movements post-jobs report, reflecting investor uncertainty amidst geopolitical tensions and market volatility.

For more information, read the full article on Bloomberg.

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