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Tech stocks responded positively to the easing of fears of a double-dip recession in the US. Investors heaved a sigh of relief after the Labor Department reported on Friday a lower-than-expected decline in non farm jobs.
The government report said that non farm jobs had declined by 54,000 in August, which was at a much slower pace than was projected by economists.
The tech stocks that recorded gains included some of the top names in the sector. Apple Inc
AAPL rose 1.36% to $255.61 at 11:25 am. Google
GOOG advanced 1.47% to $469.99. IBM
IBM rose 1.10% to $126.41 and Microsoft
MSFT was up 1.63% at $24.33. While Intel Corp
INTC inched up 0.16% to $18.31, Take-Two Interactive Software
TTWO jumped 10.06% to $9.74. TTWO shares were helped by the upbeat earning report released on Thursday.
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from Benzinga's Markets.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: NewsIntraday UpdateMarketsTrading IdeasComputer HardwareHome Entertainment SoftwareInformation TechnologyInternet Software & ServicesPayrolls ReportSemiconductorsSystems Softwaretech stocks
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