Wall Street opens higher as Big Tech rebounds

Friday, 14. May 2021 15:32

United States major stock markets opened higher on Friday for the last trading day of a volatile week. Tech stocks have regained some of the losses shed on high inflation and low employment concerns. US retail sales in April remained flat at $619.9 billion, compared to the previous month, disappointing analyst expectations.

Federal Reserve officials predict an economic recovery soon, while promising to keep protective policies in place for some time. Fed's James Bullard noted that the bank would make a judgment on whether the currently high inflation is transitory, otherwise there are tools it can use to control it.

The Dow gained 0.63% with Home Depot up by 0.47%, while the S&P 500 advanced by 0.78% as Devon Energy rose by 2.67%. The Nasdaq 100 grew by 1.08%, led by Atlassian jumping by 2.38%. The euro increased by 0.46% against the dollar to sell for $1.21349 at 9:26 am ET.

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Breaking the News / LH