Investors were gearing up for another positive session on Friday, with shares of Twitter and Snap rising in premarket trading.
U.S. stock futures pointed to further gains for Wall Street on Friday, as investors continued to balance positive earnings news with concerns about how rising COVID-19 cases might affect the economic recovery.
What’s driving the market? Markets brushed aside Thursday’s data showing a rise in weekly jobless claims to send markets to a positive finish. Technology stocks continued to curry favor with investors, with more positive earnings news late Thursday from Twitter and Snapchat parent Snap. “Responding with the same strategy, investors are moving away from stocks positively correlated with economic cycles to tech stocks in an attempt to hedge their risk,” he said.
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