Business
Wall Street rises as tech gains offset weak US data – Sydney Morning Herald
Gains in heavyweight tech stocks outweighed downbeat data that affirmed the Federal Reserve’s view of a difficult road to economic recovery.
Separate data from the Philadelphia Fed showed a business conditions index fell more than expected in August.
The volatility in jobless claims followed the lapse of an extra $US600 weekly unemployment benefit at the end of July and came as Democrats in Congress have failed to reach an agreement with the White House on extending it.
“Investors are looking through this downturn towards a point where we will begin to get a recovery especially with the Federal Reserve backstopping the companies,” …
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