Investing.com – The Nasdaq snapped a three-week losing streak on Friday, as tech rebounded with a strong showing from Apple ahead of its iPhone 5G launch widely expected to be just weeks away.
The Nasdaq Composite gained 2.26%, the Dow Jones Industrial Average was up 1.34%, or 155 points and the S&P 500 added 1.65%.
Tech continued to ride the wave of bargain-seeking investors scooping up beaten-down blue chips in the sector, with Apple (NASDAQ:AAPL), in particular, seeing strong gains, up 3%. The rise in Apple comes as Morgan Stanley (NYSE:MS) said the stock’s recent weakness provides a “compelling entry point.” Recent checks suggest that Apple is taking market share in Europe and China ahead of its iPhone 5G launch, the bank added. Read more…..
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Kourtney Gibson of Loop Capital and CNBC’s Mike Santoli discuss what led to the market breaking its 4-day losing streak.
