Wall Street enjoys strong session led by a robust tech sector

Wall Street enjoys strong session led by a robust tech sector

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4:15pm: Big tech names make gains The industrials ended the day up 188 points, 0.6%, at 34,084. The Nasdaq surged 236 points, 1.8%, to 13,536, and the S&P 500 added 43 points, 1%, to 4,159. The tech sector led the way, including Facebook Inc (NASDAQ:FB), Microsoft Corporation (NASDAQ:MSFT) and Apple Inc (NASDAQ:AAPL), all of which saw shares improve at least 1.3%. 12:17pm: Bitcoin rises, carrying Tesla with it The Nasdaq has enjoyed strong growth, adding 205 points, 1.5% to 13,505 at midday. The Dow gained 242 points, 0.7%, to 34,138, and the S&P 500 rose 42 points, 1%, to 4,158. Bitcoin, which struggled mightily earlier this week, is up 7% to $39,825.20.  "The resurgence in Bitcoin has helped bolster Tesla and Coinbase valuations, in turn helping an already positive move for the Nasdaq," Mahony wrote. "Meanwhile, Elon Musk has finally taken to his Twitter in a constructive manner, with plans to stage a new Tesla Model S Plaid event in June bringing hope of a resurgence for the stock." Tesla Inc (NASDAQ:TSLA) shares improved nearly 3% to $579.74. 11:45am: Proactive North America headlines: Q BioMed Inc (OTCQB:QBIO) hires contract sales force to promote Strontium89 to VA and Military Health System medical centers in US Marble Financial Inc (CSE:MRBL) (OTCMKTS:MRBLF) (FRA:2V0) launches GIC Savings Loan with Jenson Graf on its AI-powered MyMarble platform KULR Technology Group Inc (OTCQB:KULR) inks security purchase deal worth up to $13M ESE Entertainment Inc's (CVE:ESE) (OTCQB:ENTEF) a K1CK esports team to compete in $1M Apex Legends Global Series Championship in EMEA region American Battery Metals  Corporation (OTCQB:ABML) applies to list its shares on the Nasdaq NEXE InnovationInc (CVE:NEXE) (OTCMKTS:NEXNF) (FRA:NX5) and Rritual to collaborate on new superfoods products in NEXE compostable pods Nextleaf Solutions Ltd (CSE:OILS) (OTCQB:OILFF) (FRA:L0MA) awarded another US patent for processing method; notes big tobacco and alcohol validating its IP-focused strategy Loop Insights Inc (CVE:MTRX) (OTCQB:RACMF) trumpets major pliots and partnerships for its Wallet Pass technology thus far in 2021 in business update Green Battery Minerals Inc (CVE:GEM) (OTCMKTS:GBMIF) (FRA:BR2) moving towards preliminary economic assessment on its Berkwood graphite project with new financing Dalrada Corporation says subsidiary Prakat Solutions will sponsor virtual Global Accessibility Awareness Day event Ready Set Gold Corp (CSE:RDY) (OTCPINK:RDYFF) (FRA:0MZ) hits gold mineralization in every hole of phase 1 drilling at its Northshore project in Ontario Braxia Scientific Corp (CSE:BRAX) (OTCMKTS:SHRMF) (FRA:4960) launches Braxia Institute to advance psychiatric practices and health services for ketamine and psychedelic treatment therapy Clean Air Metals  Inc (CVE:AIR) (OTCQB:CLRMF) (FRA:CKU) reveals promising new intercepts from Escape Lake deposit on its Thunder Bay North polymetallic project NexTech AR Solutions Corp (OTCQB:NEXCF) (NEO:NTAR) (CSE:NTAR) (FRA:N29) unveils LiveX showcase event Plurilock Security Inc (CVE:PLUR) (OTCQB:PLCKF) cheers President Biden’s executive order to strengthen the country’s cybersecurity defenses The Valens Company Inc (TSE:VLNS) (OTCQX:VLNCF) (FRA:7LV)  in expansion mode with entry into New Brunswick cannabis market Aurelius Minerals Inc (CVE:AUL) (OTCMKTS:AURQF) (FRA:1GA)  says first phase drilling at Aureus West project, Nova Scotia has "exceeded" expectations XPhyto Therapeutics' Corp (CSE:XPHY) (OTCQB:XPHYF) (FRA:4XT) partner Max Pharma to launch sale of Covid-ID Lab test in Germany from May 25 9:37am: Wall Street starts higher  The main indices on Wall Street defied previous expectations to start higher on Thursday after a better than expected US jobless claims data. In the early minutes of trading, the Dow Jones Industrial Average was up 0.15% to 33,947 while the S&P 500 climbed 0.42% to 4,132 and the Nasdaq rose 0.66% to 13,387. The positive start came as the number of Americans making initial claims fell by 34,000 last week to 444,000, compared to expectations of a decline to around 453,000. This is the lowest since March 14 last year, although the previous week's figure was revised up by 5,000 to 478,000 and the four week moving average fell by 30,500 to 504,750, again the lowest since March 14, 2020. 7:40am: Wall Street to open lower Wall Street is expected to continue Wednesday's declines as investors await the latest figures for weekly jobless claims. The Dow Jones Industrial Average is forecast to open 143 points or 0.4% lower, while the S&P 500 is set for a 0.32% decline and the Nasdaq Composite is showing a 0.26% fall. Technology shares are under pressure again after weaker than expected earnings guidance from networking hardware group Cisco. Meanwhile, the number of Americans signing on for unemployment benefits is expected to have dropped from 473,000 to around 453,000 last week. Sophie Griffiths at Oanda said: "Last week’s strong reading eased labour market shortage concerns, which could put an upward pressure on wages. "The last thing the US economy needs right now is more inflationary pressure. As a result, stocks rallied. "Market participants will be watching these figures closely again today. A strong print could propel stocks higher. However, any signs of weakness could fuel rising inflation concerns and pull stocks sharply lower." Four things to watch for on Thursday: Companies in the earnings diary on Thursday include computer chip maker Applied Materials Inc (NASDAQ:AMAT), discount store chain Ross Stores Inc (NASDAQ:ROST) and cybersecurity firm Palo Alto Networks Inc (NYSE:PANW) Crypto markets will be back in focus following Wednesday’s selloff, with Bitcoin’s price having recovered to above US$40,000 in early deals Plant-based food firm Oatly Group AB will also draw attention as it makes its trading debut on the Nasdaq On the macro front, aside from the jobless claims, investors may also be eyeing the latest Philly Fed manufacturing index

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